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Hungary Applies for EUR 3.9 bln of RRF Credit

EU

Tibor Navracsics

Image by Alexandros Michailidis / Shutterstock.com

Hungary has submitted an application to the European Commission for EUR 3.9 billion in credit from the Recovery and Resilience Facility (RRF), Regional Development Minister Tibor Navracsics said on Thursday, according to a report by state news wire MTI.

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

Navracsics said he couldn't provide an answer when asked when the first tranche of the RRF credit would arrive, but noted that projects funded with RRF resources had to be implemented by the end of the summer of 2026.

Fielding a question on the holdup of Hungary's EU funding because of concerns over the rule of law, he said the European Commission still hadn't prepared its official assessment of the government's response to those concerns.

Asked about funding for the Erasmus scholarship program, he said financing is ensured until the second half of 2024. An agreement on funding beyond that must be reached by the end of November, he added.

Excluding Hungarian universities from the Erasmus program is "ideological discrimination", he said.

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