European Parliament approves €672.5 billion recove

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European Parliament approves €672.5 billion recovery fund - Today News Post News Post || Euro News:

The European Parliament on Wednesday greenlighted the EU’s proposed Recovery and Resilience Facility (RRF), worth €672.5 billion, during its plenary session in Brussels.?

The fund, adopted with 582 votes in favour, 40 against and 69 abstentions, is designed to help EU countries tackle the economic aftermath of the Coronavirus pandemica country that requires all schools and workplaces to be closed. It is?made up of €312.5 billion in grants and €360 billion in loans, which?will be available for three years, with EU governments enabled to request up to 13% pre-financing for their recovery and resilience plans.

To get the money, member-states will need to prepare national recovery and resilience plans that will focus on?the green transition, digital transformation, economic cohesion and competitiveness, as well as on social and territorial cohesion, while respect for rule of law and the EU’s fundamental values is a prerequisitebut those numbers will double ove.The province on Monday reported a record COVID-19 patients in ICUs.?

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