Brussels (AFP)
European Commission President Ursula von der Leyen will be in Belgium and France on Wednesday to announce the green light from Brussels to their EU-funded national stimulus plans.
Ms von der Leyen started a tour this week to announce in person to affected countries the Commission's approval of national plans to overcome the economic consequences of the pandemic.
It started Wednesday with Portugal and Spain, before going to Greece then to Denmark and Luxembourg.
The EU borrowed its first 20 billion euros on Tuesday on the financial markets to start financing a historic European plan of 750 billion intended to finance the green and digital transition of the economy in order to emerge faster from the economic crisis.
This common use of borrowing will make it possible to pay 672 billion euros in grants and loans to member countries.
It is an unprecedented mechanism that embodies European solidarity in the face of the Covid-19 crisis.
EU countries began to submit national investment plans associated with structural reforms in Brussels at the end of April, in order to secure their share of this funding.
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Spain and Italy should be the main beneficiaries with nearly 70 billion euros in subsidies each, ahead of France (40 billion).
As part of her European tour, Ursula von der Leyen is also expected in Austria and Slovakia on Monday.
She will visit Germany, Italy and Latvia on Tuesday.
Twenty-four of the 27 member countries have already submitted their national recovery plan to the Commission.
Only Bulgaria, Malta and the Netherlands are still missing.
Formally, the final green light for the various national plans will be given by the Council, which represents the Member States.
The first positive opinions are expected on July 13 at a meeting of EU finance ministers.
© 2021 AFP