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EU Identifies 225bn Euros Available for Energy Crisis Loans

ENERGY

EU Countries will be allowed to access unused Covid relief funds of 225 billion euros to address energy problems.

  • “Member States may request loans to finance additional investments and reforms – including those which already had their plans adopted,” European Commission Vice President Valdis Dombrovskis told the European Parliament’s economic committee.
  • The loans can also be used to respond to Russian aggression as well as to finance reforms under REPowerEU, a plan to reduce dependence on Russian oil.
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