MEPs approve loans and grants for pandemic recovery

MEPs on Wednesday approved a € 672.5 billion loan and grant package to help European Union (EU) member states recover more quickly from the coronavirus pandemic. 582 MEPs voted for the abolition of the Reconstruction and Resilience Support Mechanism (RRF), 40 were in favor and 69 were abstained. The RRF is a central pillar of the € 750 billion recovery package agreed by EU leaders last year. "In the long run, this money will bring change and progress towards our digital and climate goals," said MEP Eider Gardiazabal Rubial. "We will ensure that these measures alleviate poverty and unemployment and take into account the gender dimension of this crisis. Our health systems will also become more resilient, "she added. The Member States of the 27-member Union must submit their plans to use the funds by the end of April. Funding will be provided over a three-year period. Each planned program must use at least 37 percent of its budget to combat climate change and at least 20 percent to improve digital access and other identified areas. So far, 18 states have submitted drafts of their plans to the European Commission, which is to assess them.