Germany and four other European Union countries have received several billion euros in EU loans and grants, the European Commission announced on Monday.
The money comes from the bloc’s Covid-19 recovery fund which was created in 2021 to deal with the economic fallout from the pandemic.
Germany received €13.5 billion ($14.0 billion) after implementing reforms in climate and energy policy as well as digitalization, the commission said.
This includes the further development of a national hydrogen strategy and the promotion of clean mobility.
So far, Germany had received €19.75 billion to be used for the digitalization of the public administration and more climate-friendly transport like the promotion of electric vehicles.
Germany can access a total of €30.3 billion from the fund.
The Czech Republic, Italy, Romania and Portugal also received a total of around €50 billion in payments from the fund.
In order to receive the aid, EU states must submit a plan on digital and sustainable investment and reform projects. Funding is performance-based and only disbursed once set milestones for the implementation of the reforms have been achieved.
The funds are financed through debt, which is to be repaid jointly by 2058.
