Economy
World / Countries / MNCs COVID-19: European Commission proposes borrowing 750 bln euros as recovery fund
Just Earth News | @justearthnews | 27 May 2020, 08:00 am Print
Pixabay
Brussels/Xinhua: The European Commission on Wednesday proposed borrowing 750 billion euros (826 billion US dollars) in its name from the financial market to help the world's largest trading bloc recover from a recession owing to the coronavirus pandemic.
The money is proposed to be channeled to member states through European Union programs and repaid over a long period of time throughout future EU budgets, not before 2028 and not after 2058.
More Economy
- Is Elon Musk building a flying car? Tesla's new Roadster stuns with rocket thrusters
- Netflix's big layoff shock: 1,000 jobs at risk amid fierce streaming competition
- Is the world heading for a youth jobs crisis? UNDP flags 800 million at risk
- Apple unveils HomePod mini 2 at Rs 18,900: Main features you need to know
- Apple TV 4K with Siri AI, A19 chip announced: Price, Features and Availability
-1791127926.jpg "Image of the day: October 4, 2026")
