Beating deep divisions more than some of its terms, European leaders agreed Tuesday to a historic offer to rebuild EU economies ravaged by the coronavirus disaster.
Below the agreement, which was achieved right after a contentious 5-working day summit in Brussels, the EU will borrow 750 billion euros ($857.33 billion) for a restoration fund to be distributed among member states, with 390 billion euros ($446 billion) heading towards grants to the most difficult strike and the relaxation delivered as financial loans.
Leaders also agreed to a new EU budget of just about 1.1 trillion euros ($1.three trillion) for 2021-2027, producing put together paying ability of about 1.8 trillion euros ($two trillion).
“We did it! Europe is sturdy. Europe is united,” European Council President Charles Michel mentioned at a push meeting. “This