Hungary applies for EUR 3.9 bn RRF credit

Hungary has submitted an application to the European Commission for EUR 3.9 billion in credit from the community’s Recovery and Resilience Facility (RRF), Regional Development Minister Tibor Navracsics said on Thursday.

Hungary plans to use the financing for energy infrastructure development as well as projects to boost energy efficiency and support green transition, Navracsics said.

Navracsics declined to answer a question on when the funds would be available, adding that the loan request would be filed later on Thursday. “The date I can tell you is that RRF projects must be completed by the end of summer 2026” Hungarian minister said.

The Erasmus programme also depends on EU funding. Its funding is secured until the second half of 2024, portfolio.hu reports.

Meanwhile, the minister said the European Commission had not yet prepared its assessment of the Hungarian government’s responses to the EU’s concerns about the rule of law in Hungary. He added that as soon as the EU provided its feedback, EU’s cohesion funds to Hungary may be released.

Concerning the Erasmus higher education programme, Navracsics said financing for the programme was in place until the first half of 2024, adding that talks with Brussels were under way, and if negotiations were concluded before the end of November, financing for the second half of next year would also be ensured. He said he trusted that disputed issues around the contested programme would be resolved. “Current talks constitute the final stage of a series,” he added.