The European Commission has swiftly approved the proposal submitted by the new administration, potentially unlocking €10 billion in recovery funding.

During Péter Magyar’s inaugural participation at a European summit as Hungary’s prime minister, the European Commission gave its approval to the nation’s amended Recovery Plan, according to Euronews sources.

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This document is fundamental to the new government’s plan to access €10 billion allocated from the EU’s recovery funds designed to address post-pandemic challenges.

The Hungarian proposal features initiatives in railway infrastructure, energy systems, and housing developments; however, it requires the green light from all EU member states in the Council come July to secure full funding.

For the funds to be disbursed, Hungary must complete 27 designated “super milestones” by the end of August.

In May, Magyar reached a deal with European Commission President Ursula von der Leyen to unlock a total of €16.4 billion, funds that had been frozen by the EU during Viktor Orbán’s administration amid corruption allegations.

Hungary submitted its updated Recovery Plan nine days ago following weeks of rigorous negotiations with the Commission.

Magyar replaced Orbán’s right-wing government after the April parliamentary elections, campaigning on reintegrating Hungary with mainstream Europe and securing years-long withheld funding.