V4 Mayors Ask for Direct EU Recovery Funding

Prague Morning

The Mayors of Prague, Bratislava, Warsaw, and Budapest asked German Chancellor Angela Merkel to support the direct financing of cities from the European Recovery Fund in an open letter.

The letter states that the money should be used for an eco-friendly transformation of cities.

The EU intends to create a recovery fund to kick-start the economy after the COVID-19 pandemic. It is supposed to include €750 billion beyond the Union’s current multiannual financial framework. The money should be borrowed by the European Commission on the financial markets.

According to European leaders, money from the fund should not just help with economic recovery, but also to meet the EU’s environmental goals, which include achieving carbon neutrality by 2050.

The current EU summit in Brussels, the first physical meeting of European leaders since the outbreak of the pandemic, will discuss the parameters of the recovery fund. Before the beginning of the summit, Germany expressed its ambition to find a final agreement there.

 

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