EU Adopted Germany's Investment Plan

The EU adopted Germany's investment plan. Germany will use 52 percent of the 25.6 billion Euros from the EU.

The European Union (EU) Commission accepted Germany's 25.6 billion Euro investment plan to benefit from the EU's 800 billion Euro rescue fund. The Commission said in a statement that the fund will play an important role in helping Germany emerge stronger from the Covid-19 outbreak. In the statement, which stated that the investment plan met the EU's requirements, it was announced that at least 42 percent of the money from the EU would be spent on projects aimed at protecting the climate. Germany will spend 52 percent of the said fund from the EU on digital technologies for public services. The EU will transfer the first tranche of the funding to Germany as 2.3 billion Euros next month. In May 2020, the European Commission proposed to establish a rescue package of approximately 800 billion Euros to combat the economic consequences of the epidemic. After long negotiations, EU member states reached an agreement on the package in December 2020. Italy will get the biggest slice with 191 billion Euros from the 800 billion Euro package planned by the EU for member states. 69 billion Euro of the mentioned amount will be a grant.