European Union announces 750 billion- euro COVID-19 recovery fund

The European Union proposed 750 billion Euros as COVID-19 recovery fund. The fund is to be used by the countries to recover from deep recession caused by the COVID-19.

The European Union proposed 750 billion Euros as COVID-19 recovery fund. The fund is to be used by the countries to recover from deep recession caused by the COVID-19. The announcement by the European Union came as the 27- nation trading bloc has entered its deepest-ever recession as COVID-19 ravages the economies of the nations. Paolo Gentiloni confirmed the size of the fund announced by the EU. He is in charge of economic affairs at the European Union’s Executive Body.

About Course:

"Did you Know? In this pack you will get All new content we launch in the next 1 months"
 

This is the most recommended and NRA-CET ready Pack!
 
Use Code 'DREAM' to avail at the best price today

This package Includes IBPS PO Study Material -  Subscribe Now

About Bank Mahapack
If you are preparing for more than 1 Banking & Insurance exams then this is the pack we recommend you buy.

It is most cost-effective and you get access to 100% digital content for Bank & Insurance exams on Adda247.

Banking & Insurance Exams Covered in this Pack

Additionally, you can crack any private bank job exam with content in this pack.

 

Bank & Insurance Mahapack Highlights 

  • Structured course content
  • Recorded classes available if you miss any live class
  • Previous Years’ Papers of all upcoming exams.
  • Full Length Mocks based on the latest pattern with detailed solutions (video solutions for certain topics)
  • Topic level knowledge tests
  • Strategy sessions, time management & Preparation tips from the experts

 

Validity: 1 Month

Bank Maha Pack
  1. Unlimited Live Classes & Recorded Video Courses
  2. Unlimited Tests and eBooks
  3. 1 Lakh+ Selections
Validity
  1. 9 Months
  2. 3 Months
  3. 15 Months
  4. 27 Months
  5. 1 Month
4699 522/month
BUY NOW

 

Also Check

Key Highlights of the fund:

  • In order to keep the health care systems, jobs, and businesses alive, every country has broken the European Union’s deficit limit.
  • France and Germany had earlier agreed to provide 543 billion USD fund to add cash to the financial measures of the bloc.
  • The European Union is to implement the blueprint that are in several ways similar to that of the Franco-German model.
  • The plan involved the European Union borrowing money in the financial markets to help the countries and the sectors that have been affected by the pandemic.
  • Denmark, Australia, Sweden, and Netherland have been reluctant in regard to the money given away without any strings attached.
  • As the new budget period begins on January 1, countries have become desperate for the funds. It will be important that all the 27 countries must agree for the recovery fund to come into effect immediately.

India’s stand:

India supports the Franco-German model greatly. Around 25 nations including India discussed ways to contain virus involving key international organization. The alliance was led by France and Germany and the model is an outcome of the meet of 25 nations that was held through video conferencing in April 2020. India was represented by the External Affairs Minister Shri Jaishankar.

Also Check

What is Franco-German Model?

The model aims to pull in world organizations in the fight against COVID-19. The model also aims to strengthen the UN and especially under financed World Health Organization (WHO) to develop and distribute tests and vaccines.

About recovery fund:

The EU Commission is proposing a 750 billion euro recovery fund. The money would be divided up into 500 billion euros given to EU countries as grants, the remaining 250 billion euros would be available as loans.

Also Check

Click Here to Register for Bank Exams 2020 Preparation Material

Visit Achieversadda.com and participate in discussions with other aspirants and achievers. Get answers to your queries and connect with others on Achieversadda.com