Navracsics Tells Guardian RRF Agreement Within Grasp

Deals

Hungary’s chief negotiator with the European Union, Tibor Navracsics, told the Guardian that believed an agreement on the COVID recovery plan worth a potential EUR 15 billion could be made by the end of the year. 

He also hopes that Hungary could strike a “partnership agreement” in the next few months to secure EUR 24.3 bln of “cohesion funds”, mostly from the EU.

Brussels has blocked EU funds over concerns about state-sponsored institutions and corruption, tangling the country up with an unprecedented disciplinary process launched in April that could lead to the suspension of EU funds because of violations of the rule of law. 

Failure to reach an agreement with the European Commission by the end of 2022 would result in the loss of EUR 4.64 bln in COVID recovery funds.

It would also raise further questions over the EU’s potential EUR 24.3 bln six-year funding program to upgrade Hungary’s national infrastructure.

“[Resolving] the rule of law conditionality procedure might be a pre-condition for having an agreement on the cohesion money, or the RRF [Covid recovery] money,” Navracsics said.

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