EU Stimulus Funds Set for Timely Rollout After Parliament Vote
- European lawmakers approve bloc’s long-term spending plans
- Funding will help nations implement planned climate reforms
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European Union lawmakers approved the bloc’s 1.8 trillion-euro ($2.2 trillion) stimulus package, clearing the way for the flow of much-needed funds just as the latest wave of coronavirus infections ravages the continent’s economies.
The European Parliament vote comes a week after leaders struck a deal that will link EU funds to rule-of-law compliance. The agreement paves the way for the EU to put into effect not just its seven-year budget but a 750 billion-euro pandemic relief package that will be financed by joint debt.