EU to unblock funding for Hungary

The European Union’s executive branch is set to unblock billions of euros in funding for Hungary. This comes as Hungarian Prime Minister Viktor Orban gave in to pressure from the bloc over certain issues.

Sources familiar with the matter revealed that the EU is set to unblock billions of euros in funds for Hungary this year. The funds that are set to be unblocked go up to $15.3 billion or 10 percent of Hungary’s 2022 GDP, with approval conditional on Orban’s continuing to improve the independence of the country’s judiciary and anti-corruption safeguard with approval conditional on Orban’s continuing to improve the independence of the country’s judiciary and anti-corruption safeguards.

Orban has been at odds with the bloc during his 12 years in office over his stance on the rights of gays and migrants, as well as his tightening of state controls on the media, NGOs, the courts, and academics.

“They will get the money, but not without some serious conditions,” said a senior EU official.

The sources said the next decision on the matter by the European Commission would be expected as soon as November 29 instead of its initial date of November 22.

The executive has so far blocked an additional €7.2 billion in funds allocated for Hungary from the bloc’s stimulus fund, citing the damage to the country’s independent judiciary. Back in September, the executive also proposed suspending a further €7.5 billion or 65 percent of the development funds allocated for Hungary in the coming years over corruption.

The bloc’s home affairs ministers are set to hold an extraordinary meeting to discuss the current problems on migration on November 25, according to the Czech presidency Thursday.

“Ministers will address the current situation in all migratory routes,” tweeted the presidency.

On Friday, climate negotiators were considering a proposal by the EU that aimed to resolve an outstanding issue over financing for countries that are affected by climate-induced disasters, which would push this year’s COP27 climate summit to a final deal.

The bloc’s proposal would be to set up a fund for covering loss and damage for vulnerable countries, but will be funded from “a broad donor base.”