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Germany Recovery Plan Good for More Than 25 Billion Euro

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As far as the European Commission is concerned, Germany can receive 25.6 billion euros in subsidies from the European corona recovery fund.

 

The recovery plan submitted by the government in Brussels meets the conditions and will help Germany emerge stronger from the Covid-19 pandemic, according to the EU daily board.

“The envisaged reforms and investments in the recovery plan will contribute to the digitization and decarbonization of the German economy,” said President Ursula von der Leyen.

Germany is not yet entitled to the loans available from the temporary corona recovery fund of 672.5 billion euros that the EU member states have already set up shortly after the pandemic outbreak. Of this, 312.5 billion euros is available in grants and 360 billion in advantageous loans.

According to the plan, Germany will invest 42 percent of the money in projects contributing to combating climate change. For example, 2.5 billion euros will be invested in making homes energy-efficient.

Berlin uses 52 percent of the subsidies for further digitization. However, the finance ministers have yet to finalize the plans.

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