France is one of 10 EU countries to have had its Covid recovery plan approved by the European Commission. The fund, known as Next Generation EU, was set up to help countries climb out of economic downturns caused by the pandemic. A key element of the fund is the €672.5 billion Recovery and Resilience Facility. Italy will receive the largest share of the fund – €191.5 billion, made up of €68.9billion in grants and the rest in loans. Spain is set to receive €69.5 billion, Greece €30.5 billion, and Germany €25.6 billion.

Source: The Local June 23, 2021 14:12 UTC