European leaders have sealed a deal on an unprecedented 750 billion euro coronavirus recovery fund. After four days of heated talks leaders finally agreed on the details of loans and grants to be given to countries hardest hit by the pandemic. For the first time ever, the aid will be financed by borrowing. Of the 750 billion euros, 390 billion will be in the form of grants. The remaining 360 billion euros will be disbursed in the form of cheap loans. It’s a compromise that satisfies the demands of fiscally conservative countries.
EU leaders strike deal on coronavirus recovery fund | DW News
