EU aid fund – Germany receives € 2.25 billion – economy

Germany has received the first part of corona aid from the new European reconstruction fund. The responsible European Commission has transferred 2.25 billion euros to the Federal Republic, a spokeswoman said. This corresponds to nine percent of the total aid – around 25.6 billion euros – that Germany is to receive under the fund. According to the commission, the money in Germany will be spent on investments in climate-friendly hydrogen technology, digital utilities and the modernization and digitization of hospitals, among others. The EU’s Corona reconstruction program provides aid totaling € 800 billion. The money is intended to help cope with the economic damage caused by the pandemic. It is financed by debts which must be repaid jointly by 2058. The heart of the program is the Development and Resilience Facility (FRR), the funds of which have now flowed to Germany.

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