European Commission President Ursula von der Leyen announced on 29 May 2026 that the EU will unlock EUR 10 billion for Hungary under the revised NextGenerationEU plan, subject to the adoption of reforms and implementation of investments. The announcement came during a joint statement with Hungarian Prime Minister Péter Magyar in Brussels, marking the first high-level meeting since Magyar's government took office in April. Von der Leyen also confirmed the release of EUR 4.2 billion in conditionality-related Cohesion funds and an additional EUR 2.2 billion linked to progress on fundamental rights, notably academic freedom.
The statement follows the 12 April 2026 elections in Hungary, which von der Leyen described as a clear choice by the Hungarian people for Europe and democracy. Prime Minister Magyar, who was sworn in on Europe Day (9 May), has moved quickly to form a government and implement reforms. Von der Leyen highlighted concrete steps: Hungary has decided to join the European Public Prosecutor's Office to safeguard EU funds, agreed to strengthen the Integrity Authority to fight corruption and conflicts of interest, and is revising public procurement law. The public interest trusts (PITs), which covered large parts of the economy and presented risks of state capture, will be phased out.
On investments, von der Leyen said teams had worked intensively to agree on projects supporting energy, housing, transport, and SMEs. The EUR 10 billion unlock is subject to reforms being adopted and investments implemented. Additionally, progress on fundamental rights, including academic freedom, unlocked EUR 2.2 billion in Cohesion funds. On the child protection law, von der Leyen noted that more steps are needed but said the direction of travel is positive. She also announced that Hungarian students will be able to participate in the Erasmus programme again as early as the next academic year.
Von der Leyen emphasised that the reforms are long overdue and benefit both Hungary and the EU. She noted that markets are already responding with returning investor confidence and rebuilt trust. The announcement marks a significant thaw in EU-Hungary relations after years of frozen funds due to rule-of-law concerns. The reforms address key EU demands, including anti-corruption measures and judicial independence, though implementation remains to be monitored. The phased approach allows Hungary to access funds while committing to continued progress on outstanding issues such as the child protection law.
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