EU Executive Approves Germany's $30.5Bln Post-Pandemic Recovery Plan

Muhammad Irfan Published June 22, 2021 | 09:13 PM

The European Commission approved on Tuesday Germany's 25.6 billion euro ($30.5 billion) plan to rebuild the economy after the pandemic and make it greener and more digitalized

MOSCOW (UrduPoint News / Sputnik - 22nd June, 2021) The European Commission approved on Tuesday Germany's 25.6 billion euro ($30.5 billion) plan to rebuild the economy after the pandemic and make it greener and more digitalized.

"It will support Germany to emerge from the pandemic stronger.

The reforms and investments will help digitalise and decarbonise the economy to make it ready for the future," European Commission President Ursula von der Leyen tweeted.

The plan will be funded with EU grants under the bloc's 672.5 billion euro scheme. Once it is approved by the European Council, Germany will receive 2.3 billion Euros in pre-financing, or 8.7% of the total amount.