EU nations approve a dozen pandemic recovery plans
European Union finance ministers have approved recovery plans funded by the bloc of a dozen of the 27 member states
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.In what European Union nations hope will be a tipping point in economic recovery from the pandemic, finance ministers from the the bloc have approved the EU-funded recovery plans of a dozen of the 27 member states.
Tuesday's decision will allow the member states concerned to start unlocking funds for pre-financing of a great many projects that should make the EU's economy greener and more digitally advanced.
The approval to prepare for the release of funds is a key step in the 800-billion euro ($950 billion) support program that EU nations agreed on in principle last summer when their economies were mired in the worst economic downturn of the bloc's existence.
“This is the real start” of the EU's plans to reinvigorate and renew the economies, EU Economy Commissioner Paolo Gentiloni said. "This will boost confidence in the markets, in countries and allow investments and reforms to start.”
The dozen nations include the EU's economic juggernauts like France Germany Italy and Spain The other nations are Austria, Belgium, Denmark, Greece, Latvia, Luxembourg, Portugal and Slovakia.
Other approvals are expected later in the summer.