Brussels, 10 July 2026 (dpa/MIA) - Hungary is to receive around €10 billion ($11.4 billion) from the EU recovery fund created during the coronavirus crisis thanks to its change of government, after member states gave their go-ahead on Friday. 

Representatives of member states meeting in Brussels approved a reform and investment programme which is also aimed at strengthening the fight against corruption and increasing transparency in public funds and public procurement.

EU funds earmarked for Hungary worth double-digit billions were not paid out under the government of right-wing populist Viktor Orbán because of breaches of the rule of law and fundamental EU values.

Hungary's new premier Péter Magyar and his government have initiated a political change of course and were hoping for a swift release of the funds. 

Of the €10 billion, about €6.5 billion are grants and about €3.5 billion are loans, according to the EU.

"As with all national plans, payments under this plan will be performance-based. This means that the Commission only pays out the amounts to each country when they have achieved the agreed milestones and targets towards completing the reforms and investments included in their plan," the EU statement said.

MIA file photo