EU recovery fund – level 1

EU recovery fund

08-04-2024 15:00

The EU makes a big plan called the RRF. It helps EU countries after COVID-19. They give 723 billion euros for it.

The RRF gives money to countries to help them. The RRF is only for countries which are in the EU. Some of the money is free. These are called grants. Countries need not pay this money back. The RRF also gives loans. A loan is money which you must pay back. The RRF will end in 2026. It works together with other EU plans.

COVID-19 hurts some businesses a lot, like tourism and shops. Small businesses have problems like late payments. Some people lose their jobs. It is important to help countries and people after COVID-19.

Difficult words: free (something what does not cost any money), tourism (businesses which help people travel), payment (paying someone).

You can watch the original video in the Level 3 section.

How will the RRF help businesses and individuals impacted by COVID-19 in the EU, and what types of financial support does it offer?

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