The European Parliament on Thursday overwhelmingly voted in favor of redirecting some EU funding towards addressing the coronavirus disaster.
The Parliament — with many members voting remotely by e-mail — accredited amendments to existing regulations that might permit the implementation of the European Fee's proposed €37 billion Coronavirus Response Investment Initiative.
That’s set to provide additional cash to nations to spend, including on health care or financing for small and medium-sized businesses, by liberating up unused cohesion funds in addition to advancing future payments. MEPs voted 683 in favor and one towards the plan, while four abstained.
MEPs additionally accepted an amendment to the EU Solidarity Fund, extending its scope to cowl main public well being emergencies. A total of 671 lawmakers voted in favor, three towards and 14 abstained.
The Council of the EU cleared the plans last week.
Src: European Parliament greenlights coronavirus funding plan
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