The European Commission has approved a €2 billion capital contribution to Magyar Fejlesztesi Bank, Hungary’s state-owned development bank.
The decision marks a significant step in the ongoing negotiations between Brussels and Budapest, as Hungary commits to aligning its policies in return for access to EU funds.
The approval comes as part of a broader effort to integrate Hungary's financial institutions more closely with EU standards.
According to the Commission, the move is contingent on Hungary's adherence to specific measures aimed at ensuring compliance with EU regulations.
This development is seen as a positive signal for investors, who have been closely watching the country's progress in meeting EU requirements.
Magyar Fejlesztesi Bank plays a crucial role in Hungary's economic landscape, providing financing for various development projects.