European lawmakers have approved a 672.5 billion euro ($815 billion) recovery package of loans and grants to help member states bounce back faster from the coronavirus pandemic.
The regulation for the Recovery and Resilience Facility was adopted Wednesday with 582 votes in favor, 40 against and 69 abstentions.
The RRF is the central pillar of the the bloc’s 750 billion-euro ($910 billion) recovery plan that was adopted by EU leaders last year.
To receive their share of the money, which is linked to respecting the rule of law, the EU’s 27 nations must submit their plans for the funds by the end of April. The funding will be available for three years and EU countries can request up to 13% pre-financing for their recovery and resilience plans.
Each plan has to dedicate at least 37% of its budget to fighting climate change and at least 20% to improving digital access and other actions.
