European Parliament approves the green recovery fundFebruary 11, 2021
Hat: European Parliament approves the green recovery fund
Lawmakers in the European Parliament voted to pass the EU’s €672.5 recovery and resilience facility on Tuesday evening (9 February), unlocking unprecedented funding aimed at helping Europe “build back better” after the COVID-19 crisis.
With the Parliament’s green light, €265 billion from the total will be made available for the green transition in the form of grants and loans handed out to EU countries. The regulation establishing the new facility will come into force later this month.
The facility, made up of €312.5 billion in grants and €360 billion in loans, is designed to help countries recover from the COVID pandemic and navigate the green and digital transition.
Url description: Euractiv