Hungary receives additional frozen funds

(MENAFN) In a recent development, the European Union has released another tranche of previously frozen funding for Hungary, amounting to EUR2 billion (USD2.2 billion), signaling recognition of Budapest's purported advancements in gender equality. The decision comes shortly after Hungary voted to ratify Sweden's application to join NATO, showcasing diplomatic shifts within the European Union.

The news was initially reported by Hungarian business outlet Portfolio and later confirmed by Stefan de Keersmaecker, the spokesperson for the European Commission. According to de Keersmaecker, the funds were unfrozen as Hungary met "thematic conditions relating to educational training and gender equality."

This move follows a similar gesture in December when the European Union unlocked EUR10.2 billion in frozen funds, citing progress in "judicial independence." The decision was made just before a crucial European Council meeting discussing a proposed EUR50-billion military aid package to Ukraine, which Hungary had been obstructing.

Hungarian Prime Minister Viktor Orban had openly linked Hungary's support for Ukraine funding to the unfreezing of its withheld funds. The European Union had frozen EUR22 billion earmarked for Hungary at the end of 2022, citing concerns over the independence of judges and alleged violations of the European Union Charter of Fundamental Rights, including issues related to migration, LGBTQ rights, and academic freedom.

The unlocking of funds reflects the ongoing complexities in European Union-Hungary relations and the strategic considerations at play, with diplomatic decisions and political alignments influencing financial considerations. As Hungary navigates its position within the European Union and on the international stage, these developments underscore the intricate interplay between political decisions, funding allocations, and regional alliances.

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