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6/22, 5:58 PM (Source: TeleTrader)
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EU approves Italy's €191.5 billion virus recovery plan

European Commission President Ursula von der Leyen stated on Tuesday that that institution has greenlit Italy's scheme of recovery from the crisis the COVID-19 pandemic caused, worth €191.5 billion.

"Next Generation is the largest recovery package in history. Italy will receive the largest share. We are putting our [European] Union's strength at the service of Italy's recovery," Von der Leyen tweeted after her meeting with Italian Prime Minister Mario Draghi.

Italy recently received another set of funds from the bloc through its Support to Mitigate Unemployment Risks in an Emergency (SURE), which the EU created to address "sudden increases in public expenditure to preserve employment following the coronavirus pandemic."

Breaking the News / JR