Italy gets first 24.9 bn of EU Recovery Fund cash

Aug 15, 2021 520

The European Commission on Friday transferred 24.9 billion euros to Italy as the first tranche of the cash Rome is set to get from the NextGenerationEU COVID-19 recovery fund. Italy is set to be the biggest beneficiary of the 750-billion-euro programme, getting a total of 191.5 billion euros in grants and low-interest loans between now and 2026.

Friday's tranche amounts to 13% of that total. "Today's first disbursement of funds under NextGenerationEU in Italy launches a lasting recovery in the country," said European Commission President Ursula von der Leyen. "The EU stood in full solidarity with you throughout the crisis. We will stay by your side as brighter days are ahead.

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SOURCE: https://www.ansa.it

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