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Italy's prime minister Mario Draghi (c) has the responsibility to turn the EU pandemic aid into economic growth in the entire country (Photo: European Central Bank / Andreas Varnhorn)

Wobbly Italy gets first EU billions of pandemic aid

The European Union will, over the next six years, pay Italy a total of €191.5bn - €68.9bn in grants and €122.6bn in loans - under its Recovery and Resilience Facility (RRF), set-up to tackle Covid-19's economic impact.

The significant aid makes Italy the greatest beneficiary among its peers out of a total of more than €750bn EU-wide.

Sources in Italy's ruling coalition confirmed that the EU, earlier this month, disbursed a first €25bn tranche, which will be used to finance ongoi...

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Author Bio

Silvia Marchetti is a Rome-based freelance reporter. She covers finance, economics, travel and culture for a wide range of international media.

Italy's prime minister Mario Draghi (c) has the responsibility to turn the EU pandemic aid into economic growth in the entire country (Photo: European Central Bank / Andreas Varnhorn)

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Author Bio

Silvia Marchetti is a Rome-based freelance reporter. She covers finance, economics, travel and culture for a wide range of international media.

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