December 14, 2022
1 min read

EU, Hungary strike deal to end logjam over Ukraine aid

Some 5.8 billion euros ($6.1 billion) will be unlocked as part of the post-pandemic Recovery and Resilience Facility (RRF) funds, and another is the operative program of the Cohesion Funds….reports Asian Lite News

Hungary has concluded a long-delayed deal with the European Union (EU) on several billion euros of frozen funds, a Minister said here.

“All the goals we set for ourselves earlier have been achieved,” Tibor Navracsics, minister for regional development, said on Tuesday.

Late Monday night, the Czech Presidency of the Council of the EU announced that a deal had been reached with Hungary related to the blocked funds, reports Xinhua news agency.

The EU member states’ ambassadors approved Hungary’s Recovery and Resilience Plan (RRP) and concluded an agreement on the so-called conditionality procedure, the Czech Presidency said on Twitter.

This means that Hungary can access two large packages of EU funds.

Some 5.8 billion euros ($6.1 billion) will be unlocked as part of the post-pandemic Recovery and Resilience Facility (RRF) funds, and another is the operative program of the Cohesion Funds.

Before the agreement, the Czech Presidency confirmed to Politico that Hungary had cancelled its vetoes on both the 18-billion-euro joint EU loan destined at helping Ukraine, and the global minimum tax, which Budapest also opposed.

Earlier, EU officials said that the government of Prime Minister Viktor Orban had been using these vetoes as leverage to deblock the frozen funds — charges that the country’s government and Orban himself firmly denied.

Hungary’s Parliament will still have to adopt a package of laws by the end of March 2023, after which the suspension of EU Cohesion Funds could be lifted in April.

The government also said that in the case of the Cohesion Funds, the initial freeze of 65 per cent of the funds had been reduced to 55 per cent.

Later on Monday, Orban announced a 15-per cent pension hike in the country effective January 2023.

ALSO READ: Anger as Austria blocks Romania from joining EU’s passport-free zone

Previous Story

India, APAC to face increased cyber threats in 2023

Next Story

India to set G20 agenda amid global challenges

Latest from -Top News

Pakistan’s Shadow War in Balochistan

At least 50 killed by Pakistan-backed death squads in Balochistan in April, says HRCB — toll expected to rise in May….reports Asian Lite News The Human Rights Council of Balochistan (HRCB) reported

Russia, Ukraine Resume Talks

The upcoming talks follow a significant hiatus in diplomatic engagement between the two nations, which have been locked in a brutal conflict since Russia’s invasion of Ukraine in February 2022 Russia and

UN Pays Tribute to Indian Soldiers

Thursday was observed as the 77th UN Peacekeepers Day, honouring the work of 61,353 peacekeepers, of whom 5,375 hailed from India….reports Asian Lite News Brigadier Amitabh Jha and Havildar Sanjay Singh, who

Modi’s New Warfare Playbook

Modi has upended the old playbook and India and Pakistan are entering dangerous new territory where nuclear deterrence is no longer a guarantee against conventional conflict…writes Collins Chong Yew Keat The India-Pakistan
Go toTop

Don't Miss

EU, India join forces in New Delhi against terror drones

Violent extremists have exploited these inexpensive and adaptable consumer devices

‘UK has exclusive deal with AstraZeneca’

The UK and the EU also issued a joint statement