Legal provisions of COM(2023)748 - Amendment of Implementing Decision (EU) (ST 15447/22 INIT; ST 15447/22 ADD 1) of 15 December 2022 on the approval of the assessment of the recovery and resilience plan for Hungary - Main contents
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| dossier | COM(2023)748 - Amendment of Implementing Decision (EU) (ST 15447/22 INIT; ST 15447/22 ADD 1) of 15 December 2022 on the approval of the ... |
|---|---|
| document | COM(2023)748  |
| date | November 23, 2023 |
Contents
Article 1
(1) Article 1 is replaced by the following:
“Article 1
Approval of the assessment of the RRP
The assessment of the modified RRP of Hungary on the basis of the criteria provided for in Article 19(3) of Regulation (EU) 2021/241 is approved. The reforms and investment projects under the RRP, the arrangements and timetable for the monitoring and implementation of the RRP, including the relevant milestones and targets and the additional milestones and targets related to the payment of the loan, 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.”;
(2) In Article 2, paragraphs 1 and 2 are replaced by the following:
“1. The Union shall make available to Hungary a financial contribution in the form of non-repayable support amounting to EUR 6 511 661 435. 7 That contribution includes:
(a)an amount of EUR 4 639 429 967 that shall be available to be legally committed by 31 December 2022;
(b)an amount of EUR 1 171 717 750 that shall be available to be legally committed from 1 January 2023 until 31 December 2023;
(c)an amount of EUR 700 513 718 8 , in accordance with Article 21a(6) of Regulation (EU) 2021/241, exclusively for measures referred to in Article 21c of that Regulation, with the exception of measures referred to in Article 21c (3), point (a).
2. The Union financial contribution shall be made available by the Commission to Hungary in instalments in accordance with the Annex to this Decision.
An amount of EUR 140 102 744 shall be made available as pre-financing in accordance with Article 21d of Regulation (EU) 2021/241. That pre-financing may be disbursed by the Commission in up to two payments.
The pre-financing and 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 following Article 2a is inserted:
“Article 2a
Loan support
1.The Union shall make available to Hungary a loan amounting to a maximum of EUR 3 918 313 481. The loan support referred to in paragraph 1 shall be made available by the Commission to Hungary in instalments in accordance with the Annex to this Decision.
2.An amount of EUR 779 491 042 shall be made available as pre-financing in accordance with Article 21d of Regulation (EU) 2021/241. That pre-financing may be disbursed by the Commission in up to two payments.
3.The pre-financing and 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.
4.The pre-financing referred to in paragraph 2 shall be released subject to the entry into force and in accordance with the loan agreement. Pre-financing shall be cleared by being proportionally deducted against the payment of the instalments.
5.The release of instalments in accordance with the Loan 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 additional milestones and targets covered by the loan and identified in relation to the implementation of the modified RRP including the REPowerEU chapter. In order to be eligible for payment, Hungary shall complete the additional milestones and targets no later than 31 August 2026”.
(4) The Annex is replaced by the text in the Annex to this Decision: