ForumIAS announcing GS Foundation Program for UPSC CSE 2025-26 from 19 April. Click Here for more information.
ForumIAS Answer Writing Focus Group (AWFG) for Mains 2024 commencing from 24th June 2024. The Entrance Test for the program will be held on 28th April 2024 at 9 AM. To know more about the program visit: https://forumias.com/blog/awfg2024
News: European Union has agreed upon a historic €750 billion ($860 billion) coronavirus recovery fund.
Facts:
- Coronavirus Recovery Fund: The fund is aimed at containing an unprecedented economic downturn in the EU countries caused due to Covid-19 induced disruption.
- What does the fund contain? There are two parts of the fund:
- Euro 360 billion in low-interest loans for countries most hit by Covid-19.
- Euro 390 billion in grants to the worst affected economies.
- Significance of the fund:
- The EU as a whole will borrow money from the markets instead of individual countries.
