Italy, Spain, Poland and Greece will become the main recipients of financial assistance under the European Union's new recovery plan launched amid the crisis triggered by the coronavirus pandemic, Executive Vice-President of the European Commission for an Economy that Works for People Valdis Dombrovskis said on Friday
BRUSSELS (Pakistan Point News / Sputnik - 05th June, 2020) Italy, Spain, Poland and Greece will become the main recipients of financial assistance under the European Union's new recovery plan launched amid the crisis triggered by the coronavirus pandemic, Executive Vice-President of the European Commission for an Economy that Works for People Valdis Dombrovskis said on Friday.
"Under this proposal, Italy, followed by Spain, Poland and Greece will be the top four beneficiaries of this support. Greece could potentially receive 22.6 billion Euros [$25.6 billion] in grants and 9.4 billion euros in loans," Dombrovskis said during the Economist virtual event.
Last week, European Commission President Ursula von der Leyen announced the new plan, worth 750 billion euros, to help the EU member countries cope with the economic fallout of the pandemic Next Generation EU. It, in particular, includes 500 million euros to be issued in grants and the remaining 250 billion in loans.
