The European Commission has proposed a €750 billion package which looks to balance economic recovery with EU commitments for carbon neutrality by 2050 The European Union’s (EU) executive Commission today unveiled an ambitious plan for a green economic recovery from the covid-19 pandemic.
The package is worth €750 billion and is designed to help each of the 27 member states deal with covid-19’s economic fallout through grants and loans.
However, it will need the backing of all member countries for the plan to be ratified and implemented. Next Generation EU, as the plan is called, has been eagerly awaited for the past few days, especially since a draft was leaked a week ago.