EC Disburses EUR 140 mln of REPowerEU Funding to Hungary
Photo by symbiot / Shutterstock.com
The European Commission on Monday disbursed EUR 140.1m of REPowerEU funding to Hungary, the European Union's executive said, according to a report by state news wire MTI.
The disbursement is the second and final tranche of REPowerEU funding after the first EUR 779.5 mln tranche was disbursed on December 28.
Hungary's modified Recovery and Resilience Facility (RRF) plan was approved by EU finance ministers early in December. The endorsement of the RRF chapter for REPowerEU, the EU's scheme to save energy, generate clean energy, and diversify energy supplies, paved the way for Hungary to get EUR 920 mln of "pre-financing" not conditional on meeting any milestones.
On Monday, the EC said the payments would help "kick-start" investment and reform measures and accelerate delivery on objectives.
Low Housing Construction Activity in Q1
CEETRA Celebrates Regional Brands in Budapest
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
