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Italian Prime Minister: Reaching out a plan with the European Union to recover from the Corona crisis

Italian Prime Minister Mario Draghi announced today, Sunday, that his country has managed to reach an agreement with the European Union on the country's plan to recover from the Corona crisis.


According to news reports today, Sunday, Italy plans to spend more than 220 billion euros from the European Union and National Funds to revive its economy battered by the emerging Corona virus.


The agreement reached between the two parties after days of intense talks paves the way for the plan to be submitted to Brussels by the end of April.


Italy, led by ex-president of the European Central Bank, Prime Minister Mario Draghi, wants the money to be used to finance digitalization and environmental projects.


According to the draft plan, Draghi expects that the grants and loans provided by the European Union to his country as part of efforts to confront the repercussions of the Corona pandemic will contribute to the growth of the Italian economy at a rate of at least 3.6% of GDP and increase the employment rate by 3 percentage points until 2026 at the same time will be allocated 38% of the plan funds for green technology projects and 25% for digital projects, in response to European Union demands.


A large part of the money will also go to infrastructure projects, expanding Italy's railway network and supplying high-speed trains in economically impoverished southern Italy. About 40% of the plan’s resources will be allocated to the southern regions.