Varga noted that Hungary's support for Ukraine adds up to more than HUF 28 billion.

He added that close to one million refugees from the war had arrived in Hungary.

The minister said Hungary is prepared to participate in Ukraine's reconstruction with the help of Hungarian companies active in the region.

He added that the development of Transcarpathia, an area in the west of Ukraine home to many ethnic Hungarians, is "indispensable" in rebuilding the country.

Varga participated at the annual International Monetary Fund (IMF) and World Bank meetings that wound up in Washington, D.C., on Sunday.