EC Disburses EUR 140 mln of REPowerEU Funding to Hungary

EU

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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.

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