The European Council today approved a new recovery and resilience plan (RRP) for Hungary.
Axar.az reports, citing the European Council of the European Union, that the new plan should allow for €10 billion to be disbursed to Hungary, made up of around €6.5 billion in grants and around €3.5 billion in loans.
RRPs set out national reform and investment agendas in the context of the recovery and resilience facility (RRF) - the centrepiece of NextGenerationEU, the EU’s temporary instrument to facilitate and accelerate the green and digital transitions in member states, while increasing resilience, cohesion and sustainable growth.
Today’s approval follows Hungary’s recent submission of its new plan. Delays in meeting the super milestones in Hungary’s previous plan meant that it was no longer achievable due to cost increases stemming from energy price volatility, unexpected shifts in geopolitical circumstances, unforeseen implementation challenges, delays resulting from time constraints or scheduling pressures, as well as other developments.
Measures outlined in Hungary’s new national RRP aim to contribute to all RRF pillars. They will ensure the protection of the Union’s financial interests in relation to the plan’s implementation, strengthen Hungary’s anti-corruption framework, enhance transparency of public resources and public procurement, and improve the involvement of stakeholders and social partners in the legislative process. The new RRP also includes measures to strengthen judicial independence and rule of law in Hungary.
It should be noted that the initial version of the plan, prepared by the government of former Prime Minister Viktor Orban, had been rejected by the European Commission.
Source: en.axar.az
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