August 19th 2021, the European Commission said in a press release issued the same day that the EU had paid France a 5.1 billion euro payment from the European aid package, which would help speed up the implementation of basic investment and reform measures in France’s recovery and recovery plan.
The European Commission will then approve the remainder of the money in light of the actual investment and reforms implemented in the French recovery plan. France is expected to receive a total of 39.4 billion euros over the entire aid package period.
It is understood that the European Commission approved France’s Coronavirus outbreak recovery plan in June, which will provide France with 39.4 billion euros by 2026.
The aid, the first joint EU borrowing, provides countries with Coronavirus-based pandemic recovery funds, totalling about 723.8 billion euros, in the form of grants and loans to member states.
This week, countries such as Spain, Belgium, Luxembourg and Portugal received initial aid, with Spain receiving up to 9 billion euros.
