ECONOMY

Recovery fund approved by lawmakers

recovery-fund-approved-by-lawmakers

The agreement paving the way for resources from the Next Generation EU fund to be channeled to Greece was ratified in Parliament on Friday on the strength of ruling New Democracy votes.

The agreement between Greece and the European Union is formally named “Ratification of the Funding Agreement Between the European Commission and the Hellenic Republic, of the Loan Agreement Between the European Commission and the Hellenic Republic, and their Supplements.”

The agreement sets out the exact amount allocated to Greece, or 17.8 billion euros in grants and €12.7 billion in loans.