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The head of the European Council renewed the proposal for the restoration Fund of the EU

The head of the European Council Charles Michel on Friday renewed the offer to the member countries of the EU multi-annual financial framework of the Union for the 2021-2027 years, and also Fund the restoration of agroeconomic after the associated with coronavirus crisis.

"In the discussions between the heads of state and government, it became clear that there are serious objections to this package. After that, I held a series of bilateral talks with European leaders, the results of which are to the revised draft multi-year budget plan and recovery Fund", - said the head of the European Council at the press conference in Brussels. According to him, the plan based on the priorities of Europe: climate, digitization, European values and strengthening the EU's position in the world. "We need to deal with the consequences of a pandemic, reform our economy and build our society," he added.

Michelle said that the new proposal suggests to fix the amount of multi-year financial plan in the amount of 1,704 trillion euros, and save as earlier proposed by the European Commission 750 billion euros to Fund the economic recovery. "The Commission will be able to borrow 750 billion. We are talking about an instrument which is necessary in emergencies," explained Michelle. He also suggested to maintain a balance between loans, grants and guarantees, to avoid overloading member States because of too high debts. "It is important for our single market and prevent its fragmentation", - said the head of the European Council.

Michelle also noted that 70% of the Fund will be used in 2021-2022 year on the basis of the criteria of the EC. Another 30% can be used in 2023 depending on economic indicators. All funds of the Fund in any case must be mastered to 2026.

An extraordinary summit will be held in Brussels 17-18 July and will be devoted to the restoration Fund of the EU from the economic crisis and the related multi-annual financial framework of the EU 2021-2027 years. These issues have been discussed at the level of EU leaders, however, until a final agreement thereon is not reached.

The European Commission in late may, presented the proposal to establish a recovery Fund of the European Union from the crisis of coronavirus, in the amount of 750 billion euros. These funds it plans to raise in the financial markets and give countries of the Union in the form of grants (up to 500 billion euros) and loans (up to $ 250 billion). The Fund will consist of a number of support mechanisms will be temporary, it is anticipated that it will support the economy until the end of 2024. Austria, Sweden, Denmark and the Netherlands believe that 500 billion euros must also be given to the victims of the coronavirus countries in the form of loans, not grants.

Recent data on the situation of COVID-19 in Russia and the world presented on the portal stopmanager.of the Russian Federation.