9/23, 1:49 PM (Source: TeleTrader)
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EU grants Germany, Italy, Spain €1.2B to curb crisis

The European Commission granted on Thursday €1.2 billion to Germany, Italy, and Spain for them to support the employment, social inclusion, and digital transition amid the crisis caused by the COVID-19 pandemic.

Out of those €1.2 billion, approximately €1 billion was given to Italy, €19 million to the Spanish region of La Rioja, and €196.4 million to the German federal states of North Rhine-Westphalia, Saarland, Hessen, and Saxony-Anhalt.

The funds will be provided via REACT-EU, a part of Next Generation EU, the fund the European Union approved in an effort to curb the crisis the pandemic led to.

Breaking the News / JR