Zovko welcomes the EU Recovery plan of € 1.85 trillion to recover from the crisis and to reinvest in our European future

Brussels/Split 27 May 2020,

The European Commission presented its proposal for a Recovery instrument to get the EU through the corona crisis. Commission President Ursula von der Leyen outlined the plan during an extraordinary plenary session of the European Parliament. With a revamped long-term EU budget of in total € 1.85 trillion the Commission hopes to live up to the extraordinary challenge and to prepare the EU for a better future. The proposal includes a new recovery instrument, called Next Generation EU, that will be worth €750 billion (€500 billion in grants and €250 billion in loans to Member States).

Željana Zovko, member of the European Parliament welcomes the proposal. “The proposal is made to ensure that those who need more support get the investment they need to catch up. With this budget we can repair the short-term damage from the crisis in a way that also invests in our long-term future by working on a sustainable society, improved digital capabilities and a more resilient single market.” Zovko said. As rapporteur of the external financial instrument IPA III, Zovko particularly appreciates that the Commission proposal also will continue to support its partners and neighbours by increasing the pre-accession assistance to €12.9 billion. In addition, also the Neighbourhood, Development and International Cooperation Instrument will be reinforced to a level of €86 billion.

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