EU recovery plan: France will receive 40 billion euros in subsidies

France will be able to dispose of 40 billion euros in subsidies as part of the European recovery plan signed Tuesday, July 21, at dawn, by the 27 Member States of the EU, said Tuesday the Minister of the Economy Bruno The mayor.

Of the 750 billion euros mobilized at European level, including 390 billion euros in subsidies allocated to the states most affected by the pandemic, "that means 40 billion euros in subsidies for France (...) and especially which are immediately available, "said the minister on Franceinfo.

European recovery plan: "That means 40 billion euros in subsidies for France", explains Bruno Le Maire, Minister of the Economy

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"Because (...) the revival is now, there is not a moment to lose", he insisted, specifying that this money will help finance the French 100 billion stimulus plan. euros over two years.

This recovery plan, the broad outlines of which were unveiled during the general policy speech of Prime Minister Jean Castex, will be presented in detail during the Council of Ministers back to school on August 24.

A substantial envelope for the ecological transition

In particular, it will include a substantial envelope for ecological transition. Bruno Le Maire expressed his willingness to devote "30%" of the recovery plan to it, or 30 billion euros, indicating that he was working on the subject with the Minister of Ecology Barbara Pompili.

"This is necessary if we want to keep this ambition of accelerating the ecological transition and decarbonizing our economy," he said.

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Around twenty billion euros will also be devoted to employment, with support for young people and the re-qualification of people deprived of work due to the crisis, and another 20 billion will be dedicated to helping low-income households. Bruno Le Maire notably cited the increase in the back-to-school allowance, which represents an expenditure of "half a billion euros".

European funds will also finance investments in hydrogen, energy renovation of buildings and hospitals, said the Minister of the Economy. “This money will go very directly to the daily life of the French,” he defended.

With AFP

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