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Home NEWS il fondo per la ripresa dell’ue approvato dal consiglio europeo

EU Recovery Fund approved by the European Council

In relation to the Covid-19 pandemic, the European Union has taken measures to counter the effects of the crisis which has affected not only the Member States, but also the world economy.

An extraordinary European Council summit took place on 17-21 July 2020 with the aim to decide on a plan for the recovery of Europe in relation to the crisis caused by coronavirus. The result of the meeting is the €750 billion recovery package, intended not only to repair the damage caused by the pandemic, but also to reform economies and reshape companies.

The €750 billion Next Generation EU fund will be divided into two parts: €390 billion of the fund will be distributed between the Member States in the form of grants, and €360 billion - in the form of loans.

The recovery package was approved alongside the long-term EU budget (Multiannual Financial Framework) for 2021-2027 which amounts to €1,074 billion. Among others, the budget will support investment in digital and green transitions. The total value of the approved package at the summit on 17-21 July this year amounts to €1,824 billion.

Poland is the main beneficiary of the whole financial package by obtaining around € 125 billion in direct grants, and around €160 billion together with preferential loans. As informed by Prime Minister Mateusz Morawiecki, the money from the package will be used for infrastructure, road, energy and communication projects.

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