EU Infrastructure Funds Require Reforms Amid Crisis

French President Emmanuel Macron and Greek Prime Minister Kyriakos Mitsotakis are advocating for an extension of the EU Recovery Fund repayment period. Brussels is discussing whether member states can extend a deadline set for the end of August. The discussion involves whether a majority of member states can postpone the deadline or if funds could be parked in the Hungarian Development Bank. Current EU rules suggest that without these reforms, necessary funds may be lost. Implementing complex reforms within a few months is described as technically difficult. Approximately 70 million euros of EU infrastructure and development funds are subject to pending reforms. These reforms are being addressed in the context of an ongoing political and stability crisis. The implementation of these reforms is expected to occur in June.