Legal provisions of COM(2022)686 - Approval of the assessment of the recovery and resilience plan for Hungary

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dossier COM(2022)686 - Approval of the assessment of the recovery and resilience plan for Hungary.
document COM(2022)686 EN
date November 30, 2022

Contents

Article 1 - Approval of the assessment of the RRP 

The assessment of the RRP of Hungary on the basis of the criteria provided for by Article 19(3) of Regulation (EU) 2021/241 is approved. The reforms and investment projects under the RRP, the arrangements and timetable for monitoring and implementation of the RRP, including the relevant milestones and targets, the relevant indicators relating to the fulfilment of the envisaged milestones and targets, and the arrangements for providing full access by the Commission to the underlying relevant data are set out in the Annex to this Decision.

Article 2 - Financial contribution 

1. The Union shall make available to Hungary a financial contribution in the form of non-repayable support amounting to EUR 5 811 147 717 10 . An amount of EUR 4 639 429 967 shall be available to be legally committed by 31 December 2022. A further amount of EUR 1 171 717 750 shall be available to be legally committed from 1 January 2023 until 31 December 2023.

2. The Union financial contribution shall be made available by the Commission to Hungary in instalments in accordance with the Annex. The instalments may be disbursed by the Commission in one or several tranches. The size of the tranches shall be subject to the availability of funding.

3. The release of instalments in accordance with the financing agreement shall be conditional on available funding and a decision by the Commission, taken in accordance with Article 24 of Regulation (EU) 2021/241, that Hungary has satisfactorily fulfilled the relevant milestones and targets identified in relation to the implementation of the RRP. In order to be eligible for payment, Hungary shall complete the milestones and targets no later than 31 August 2026, subject to the entry into force of the legal commitments referred to in paragraph 1.

Article 3 - Addressee

This Decision is addressed to Hungary.