Spain will receive a total of 69.5 billion euros from this fund in the coming years while Lithuania also receives the first amount from the EU recovery fund of 289 million Euro.0: 00/2: 10 South Dong Dong euro. (Source: Reuters) On August 17, Spain has received the first disbursement worth 9 billion euros (nearly 11 billion USD) from the European Union's recovery fund (EU). According to regulations, Spain will receive a total of 69
.5 billion euros from this fund in the coming years. Disbursements associated with the implementation of investment projects and reform measures that the country have submitted to the European Commission. On the day, Lithuania also received the first money from the EU recovery fund was 289 million euros, in a total of more than 2 billion euros that the country would be received
Before, on June 28, the EU spent the first cash from the Covid-19 recovery fund in the form of subsidies to Creating jobs and supporting businesses in the episodes of pandemic devastations. At the summit in December 2020, the EU has achieved a history consensus as a common debt aggregation - shared between cities EU members to reduce borrowing costs for weaker members, to finance the recovery package worth 750 billion euros. However, according to the European Commission (EC), this is the exchange rate of 2018 and estimates According to this year's exchange rate, the fund is up to nearly 807 billion euros. Currently 25/27 EU Member States submitted a spending plan, of which 16 approved plans.Bulgaria and the Netherlands are two countries that have not submitted the spending plan and the deadline to submit this plan is In the middle of the following year.Theo spokesman EC Arianna Podesta, the order of countries receiving disbursement in the above recovery package depends on the governments through a quick or slow agreement. In this support package, 500 billion euros will be spent in the form of financing for countries and 250 billion euros in the form of credits. In 500 billion euros funded, 310 billion euros will be invested in digital and economic transformation activities. The post-Covid-19 economic recovery is part of the long-term budget package by 2027 EU with a total value of 1,800 billion euros (equivalent to 2,190 billion USD) to address economic and social consequences after Pandemic Covid-19 outbreaks ./
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