EU: ‘Team Europe’ recovery package reaches €36 billion

‘Team Europe’ package has been mobilised to almost €36 billion to support partner countries in the fight against the coronavirus pandemic and its consequences. 

The objective of the “Team Europe” approach is to combine resources from the EU, its Member States, and financial institutions, in particular the European Investment Bank and the European Bank for Reconstruction and Development.

In Europe and in the world, all minds are focused on actions to tackle the outbreak of COVID-19 and mitigate the effects of the crisis. The European Union works on all fronts to support these efforts. 

“The coronavirus has not only Europe but the entire global community in its grip and is the world’s common enemy. An enemy we can only defeat with a global approach and cross-border coordination”, said EU High Representative Josep Borrell.