As much as €7.4 bln to reach Poland from EU due to coronavirus

Ursula von der Leyen, President of the European Commission, presented an EU initiative worth €37.3 billion on Friday as part of a package of measures to alleviate the economic impact of the epidemic. She indicated that these funds would come from cohesion policy and would go directly to specific sectors. Earlier it informed about the fund worth €25 billion.

Poland can receive the biggest share of this fund – €7.4 billion. A lot of funds are also to reach Spain (€4.1 billion), Italy (€2.3 billion), Hungary (€5.6 billion) and Romania (€3 billion).

The Commission is concerned that the coronavirus will hit the EU economy hard. European Commission Director-General for Economic Affairs Maarten Verwey said on Friday that the European Union and the eurozone will most likely be in recession due to coronavirus this year.

(PAP)