The European Commission (EC) has formally proposed a new recovery instrument with a size of €750 billion for the EU to help with the economic recovery from the pandemic. This instrument will be attached to the next multi-annual European budgetary programme – the so-called Multiannual Financial Framework (MFF).
This comes on top of the emergency support measures – the ESM credit lines and the unemployment reinsurance scheme, and European Investment Bank guarantee funds – worth around € 540 billion.
You can find the press release here.
The proposal for the so-called “Next generation EU” fund can be found here.