European finance ministers approved 12 plans to revive the economy, funded by the European Union, to face the repercussions of the Corona epidemic.
According to Arab Net, agreeing to prepare to release the funds is a major step in the 750 billion euro support program agreed upon by the European Union countries from In principle last summer, when their economies were mired in the worst economic downturn ever.
Concerned member states could start obtaining funds to pre-finance several projects that would make the EU economy greener and more digitally advanced.
EU Economics Commissioner Paolo Gentiloni said that this is the real start of the European Union's plans to revitalize and renew economies, and this would enhance confidence in markets and in countries and allow a start Investments and reforms.
The 12 countries involved are: France, Germany, Italy, Spain, Austria, Belgium, Denmark, Greece, Latvia, Luxembourg, Portugal and Slovakia.
Further approvals are expected later this year.
European Commission President Ursula von der Leyen announced before the European Parliament in June that the Commission would begin approving projects for member states to implement the 750 billion euro economic stimulus plan. Which was the subject of difficult discussions until its approval in July 2020. She said: This is an unprecedented achievement.
Portugal and Spain were chosen to start, with Portugal making the rapid adoption of these national plans a high priority in its rotating presidency of the European Council. The government of Socialist Antonio Costa wanted to be the first among the European Union countries by presenting its national plan in April.
Spain is the second largest beneficiary of this European money after Italy. It is assumed that Spain will receive 140 billion euros, of which 70 billion will be in direct support and the rest in the form of loans.
