Since joining the EU, cohesion policy has served as the primary source of funding for regional development in Hungary and other Eastern member states. These funds are intended to reduce regional disparities and support economic convergence. This chapter explores the impact of EU funding on territorial disparities in Hungary since 2004. Analysis reveals that the least developed Hungarian regions did not receive significantly more funding than the more developed ones. Despite this, internal disparities decreased following the 2008 financial crisis, eventually returning to pre-accession levels. However, this trend cannot be attributed to EU funds but rather to the relatively poor performance of key growth poles, particularly the capital city. The chapter argues that regional development in Hungary has been shaped more by market dynamics—such as the location choices of foreign investors—than by cohesion policy funds. While Hungary’s absorption rate of EU funds is among the highest in the EU, these funds have not substantially bolstered the Hungarian economy. Regional disparities between counties remain at levels comparable to those observed two decades ago.