European Commission: EUR 9.218 Billions Grants for Bulgaria, Italy and Spain on Top of the Table
Italy and Spain will be the main beneficiaries from a 750 billion-euro ($826 billion), jointly financed fiscal stimulus package debated among European Union governments, according to estimates by the bloc's executive seen by Bloomberg.
The European Commission's so-called Next Generation EU plan is subject to approval by all 27 governments and the European Parliament. Negotiations on the package could take months and result in significant amendments. While the EU's executive arm hasn't officially published a proposed allocation of the funds, Bloomberg has seen an internal memo with those estimates based on the latest available economic data.
The plan will be financed with debt issued by the commission on behalf of the entire bloc. Part of the proceeds will be channeled to member states via grants, while the rest will be distributed in the form of concessional loans. The full amount will be collectively repaid later.
The table with the pre-allocation estimates includes all the separate programs included in the plan, such as a fund to help countries adjust to a low-carbon economy and money for farmers. It doesn't include grants from the regular EU budget, for the period between 2021-2027, which is also subject to ongoing negotiations.
The Details Grants (in billion euros) Concessionary loans (in billion euros) Italy 81.807 90.938 Spain 77.324 63.122 Poland 37.693 26.146 France 38.772 Greece 22.562 9.436 Romania 19.626 11.58 Germany 28.806 Portugal 15.526 10.835 Czech Republic 8.586 10.626 Hungary 8.101 6.968 Slovakia 7.939 4.874 Bulgaria 9.218 3.151 Croatia 7.365 2.648 Netherlands 6.751 Lithuania 3.908 2.419 Belgium 5.48 Slovenia 2.579 2.492 Sweden 4.691 Latvia 2.894 1.595 Austria 4.043 Finland 3.46 Estonia 1.851 1...