The European Union (EU) has reached a historic agreement on a 750 billion euro ($858 billion) coronavirus recovery fund after days of intense negotiations. The deal, which was approved by all 27 EU member states, aims to help the bloc recover from the economic impact of the pandemic.
The agreement includes 390 billion euros in grants and 360 billion euros in low-interest loans that will be distributed to EU countries based on their needs. The funds will be used to support member states’ healthcare systems, businesses, and workers, as well as to promote economic growth and development.
The approval of the recovery fund marks a significant milestone for the EU, as it demonstrates the bloc’s ability to come together and take decisive action in times of crisis. The deal is seen as a major step towards strengthening the EU’s economic resilience and solidarity in the face of future challenges.
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Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
