VON DER LEYEN: FUNDS FOR BUDAPEST UNBLOCKED

BRUSSELS, MAY 29 /SRNA-Reuters/ - Hungary's progress in reforms under the new government allow the European Union to unlock billions of euros for the country in recovery and cohesion funds, said President of European Commission Ursula von der Leyen.

After meeting Hungary's Prime Minister Péter Magyar, von der Leyen told reporters that the EU would unlock 10 billion euros of previously frozen funds from the recovery fund and also 4.2 billion euros in cohesion funds.

"I'm very happy to announce today that we can unlock 10 billion euros for Hungary," von der Leyen said, referring to the grants and cheap loans from the EU Recovery fund. With the progress on the super milestones, we have also been able to unlock the conditionality related cohesion funds worth 4.2 billion euros, said von der Leyen.

She added a further 2.2 billion euros in cohesion funds would be made available to Budapest as the government completes further steps.