BRUSSELS – The European Union has confirmed that its proposed €750 billion (US$830bn) package to help the bloc recover from the coronavirus crisis will be linked to environmental commitments, with a quarter of all funding set aside for action on climate change.
European Commission President Ursula von der Leyen told the European Parliament that plans to reserve 25 per cent of EU spending for climate-friendly expenditure would apply to the recovery programme from the COVID-19 crisis, and also the EU’s updated budget proposal.
“The recovery plan turns the immense challenge we face into an opportunity, not only by supporting the recovery but also by investing in our future: the European Green Deal and digitalisation,” von der Leyen said.
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