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KUALA LUMPUR, JULY 2026 – Hungary is set to receive around €10 billion, or about US$11.4 billion, from the European Union’s COVID-19 recovery fund after a change in government and approval from EU member states in Brussels. The funding marks a major shift for Budapest after years of frozen EU allocations linked to rule-of-law concerns.
The approval covers a national reform and investment programme aimed at strengthening anti-corruption measures, improving transparency in public fund management and tightening oversight of government procurement. These reforms are seen as key conditions for Hungary to regain access to funds that had previously been withheld.
Under the previous administration led by Viktor Orban, billions of euros allocated to Hungary were not disbursed due to concerns over violations of EU rule-of-law principles and core European values. The new government under Prime Minister Peter Magyar has started shifting policy direction and is seeking faster disbursement of the recovery funding.
Of the total €10 billion package, around €6.5 billion will be provided as grants, while approximately €3.5 billion will come in the form of loans. The EU has stressed that payments will be performance-based, meaning funds will only be released once Hungary meets agreed milestones and targets under its reform and investment plan.
The funding decision also comes as Hungary moves to strengthen its anti-corruption framework. The government has submitted a bill to establish a National Asset Protection and Recovery Office, an independent body tasked with investigating, tracing and recovering public assets linked to misuse or corruption.
Hungary’s decision to join the European Public Prosecutor’s Office has also been viewed as a significant step in rebuilding trust with Brussels. The move is intended to provide stronger safeguards over how EU funds are used and to show the new government’s commitment to tackling corruption risks.
For Hungary, the expected funding could provide important support for investment, public sector reform and economic recovery. However, the release of the money will depend on whether the government can meet the EU’s agreed benchmarks on governance, transparency and financial oversight.
The development signals a new phase in Hungary’s relationship with the European Union. After years of tension over democratic standards and the use of public funds, the new administration is now under pressure to prove that its reform agenda can unlock EU support while restoring confidence at home and across the bloc.
