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22 October, 2020
 
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Cyprus to get €2.5 billion, EU Commission proposal says

The new recovery fund is set to distribute €550 billion in grants and an additional €250 billion in loans across EU Member States

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The European Commission will propose on Wednesday that Cyprus gets €1.433 billion of the new recovery fund, and €2.52 billion in total.

The Commission is expected to propose that Member States as a whole receive a total of €550 billion in grants and an additional €250 billion in loans from the new recovery fund.

Italy and Spain – the states worst hit by the coronavirus epidemic would get the lion’s share out of a total 750 billion, according to the proposal.

Italy is to get 173 billion, of which 82 billion would be grants and 91 billion would be loans.

Spain could be getting a total of 140 billion of which 77 billion would be grants and 63 billion loans.

The Commission is set to propose that Greece gets €32 billion, of which €22.5 billion would be grants and €9.4 billion would be loans.

TAGS
Cyprus  |  EU  |  Commission  |  recovery fund  |  grant  |  loan

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