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EU Leaders Reach Agreement On Covid Recovery Fund

Kim Buckley
Kim Buckley

6:57 AM - 21 Jul 2020



European leaders have reached a historic agreement on a 750 billion euro Covid recovery fund.

It forms part of a 1.8 trillion euro EU budget and was agreed overnight following lengthy negotiations ongoing since Friday.

It's reported 390 billion of the pandemic recovery fund will go to member states in the form of grants, and 360 billion in loans.

Speaking following the announcement, Taoiseach Micheal Martin says it's a good deal for Ireland and Europe:

'I welcome what is a very substantial and significant package of measures, which I think will go a long way to reboot and re-engineer economic recovery in the European Union.'

 



Read more about

Brussels Covid Recovery Fund EU Leavers EU Summit Michael Martin

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