It’s certainly needed during this time.
The EU has reportedly proposed handing Malta just shy of €1 billion from the COVID-recovery fund worth around €750 billion in total. Malta’s figure should be divided into €642 million in loans and €350 million in grants.
Ursula von der Leyen, President of the European Commission, unveiled the package today and discussions among the various member states and the EU Council will be held before final approval.
“We have managed to ensure that Malta and Gozo are eligible for a recovery package of close to €1 billion in grants and loans that we can use to transform our post COVID-19 economy into a truly circular and sustainable one.” MEP Roberta Metsola said following the negotiations.
This package will aid countries in getting back on their feet as we ease into a new norm and kick-starting various sectors.