Published: November 25 2023
Hungary is set to receive 900 million euros from the European Union (EU) for green energy and sustainable growth. The disbursement of funds is conditional on Hungary implementing certain milestones to protect the EU's financial interests and strengthen judicial independence.
Key Points of Hungary's REPowerEU Chapter
Hungary's REPowerEU chapter includes several measures to enhance the electricity sector, promote renewable energy usage, improve energy efficiency, encourage sustainable transport, upskill and reskill the workforce for the green transition, decarbonize industry, and invest in green technologies and value chains associated with the green transition.
Implementation and Talks
Hungary has already begun receiving EU funds, but the full amount is contingent on further talks and fulfilling the necessary requirements. The goal is to ensure that Hungary receives its entitled funding as soon as possible.
The EU's allocation of 900 million euros to Hungary for green energy and sustainable growth signifies a significant step towards achieving environmental objectives and promoting a greener economy. Hungary's commitment to implementing the necessary milestones will pave the way for the successful utilization of these funds.
Questions & Answers
What is the purpose of the disbursement of 900 million Euros to Hungary? The disbursement of 900 million Euros to Hungary is intended for green energy and sustainable growth initiatives.
What are the conditions for Hungary to receive the funds? Hungary needs to satisfactorily implement 27 "super milestones" set by the European Commission to protect the EU's financial interests and strengthen judicial independence.
What does Hungary's REPowerEU chapter include? Hungary's REPowerEU chapter includes measures to strengthen and modernize the electricity sector, accelerate the deployment of renewable energy, improve energy efficiency, promote sustainable transport, upskill and reskill the workforce for the green transition, decarbonize industry, and invest in green technologies and value chains linked to the green transition.
Who is responsible for allocating EU funds to Hungary? The regional development minister, Tibor Navracsics, has stated that the allocation of EU funds to Hungary has begun.