The European Union’s (EU) top executive on Thursday announced the bloc’s endorsement of Greece’s national spending plan for its share of the EU’s massive pandemic recovery fund. European Commission President Ursula von der Leyen announced the approval of Greece’s “recovery and resilience” plan during a visit to Athens. As per reports, the European Union has set apart USD 36.4 billion of the recovery fund for Greece - 12.7 billion euros in loans and 17.8 billion euros in grants from 2021 to 2026.

The economic recovery plan of Greece which will "supercharge investment, reform and growth throughout the country" has been endorsed by the European Union (EU).

The fund will be invested in such fields as green and digital transition, healthcare, and job creation, according to the plan unveiled by Ursula von der Leyen, president of the European Commission (EC), and Prime Minister Kyriakos Mitsotakis on Thursday.

"There is no doubt it (the plan) will deeply transform Greek economy which will embrace the twin green and digital transition," von der Leyen said. She said that all EU-member states will emerge stronger and more resilient. Adding that “the recovery is underway, and we can start to look to the future with hope and with confidence." On his part, Prime Minister Mitsotakis said that this was a historic moment for Europe and the dawn of a new era.

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