Home Digital Fund EU allocates € 200 billion recovery fund to green projects

EU allocates € 200 billion recovery fund to green projects


Brussels, June 25 (Xinhua)-European Union (EU) countries will invest at least € 200 billion in green projects to help economies recover from the COVID-19 pandemic, according to the European Commission Ursula von de Araien, chairman, said. Friday.

The EU CEO has completed the first leg of the tour of 27 member states and approved plans to use the Recovery Fund for more environmentally friendly digital growth.

Von der Leyen said that 24 national plans were submitted, 12 of which were approved by the European Commission, so that all plans will shift at least 20% of their allocated resources to the digital sector and 37% to the green. He said he was beyond the goal of investing in.

“At least they meet it, but many haven’t overtaken it. That’s a good thing. So, to name a few topics, we have an investment of at least € 200 billion in green measures,” she said. I told reporters. EU Summit on Friday.

The EU is ready to mobilize € 750 billion for a historic recovery package known as the Next Generation EU on behalf of 27 Member States and began raising funds in the financial markets last week.

“We raised € 20 billion with a 10-year maturity, and it was a seven-fold oversubscription, demonstrating market confidence and confidence in the Next Generation EU and the European Union,” Fondea said. Ryan declared.

At the heart of NextGenerationEU is resilience and recovery facilities. It will provide Member States with grants of up to € 312.5 billion and loans of up to € 360 billion to implement the reforms.

For all approved plans, the Council has four weeks to adopt the Commission’s proposal. The approval of the plan by the Board will allow a percentage of the upfront loan to be paid, with the rest paid according to the milestones and satisfactory achievement of the goals.

EU leaders are confident that vaccination programs are underway, pandemics will be curbed and funding will soon be distributed to restart the economy.

“This year, we have demonstrated the ability of Europeans to respond quickly and appropriately in the areas of monetary policy, budget policy and investment,” French President Emmanuel Macron said after a summit meeting on Friday.

“We have acted courageously and boldly and have survived this crisis so well,” said German Chancellor Angela Merkel. (1 euro = 1.19 US dollars)

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