EU plans to start spending huge recovery fund in months
BRUSSELS, Jan. 18 (Xinhua) -- The European Union (EU) plans to start raising and allocating in the next few months the main part of the 750-billion-euro (906-billion-U.S.-dollar) recovery fund, designed to bail out the bloc's economies hard hit by the COVID-19 pandemic, EU Commissioner for Economy Paolo Gentiloni said Monday.
He told reporters following a Eurogroup ministerial meeting that the roll-out of the Recovery and Resilience Facility, the bulk of the massive fund, would be key to address the imbalances and inequalities that were deepened by the public health crisis.