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European Parliament approves €672.5 billion recovery fund

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The European Parliament on February 10 greenlighted the EU’s proposed Recovery and Resilience Facility (RRF), worth €672.5 billion, during its plenary session in Brussels. 

The fund, adopted with 582 votes in favor, 40 against and 69 abstentions, is designed to help EU countries tackle the economic aftermath of the Coronavirus pandemic. The package is made up of €312.5 billion in grants and €360 billion in loans, which will be available for three years, with EU governments enabled to request …

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