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.