EU plans to start spending huge recovery fund in months

Paolo Gentiloni, European Commissioner for Economy, speaks at an online press conference after a Eurogroup ministerial meeting, in Brussels, Belgium, Jan. 18, 2021. The European Union (EU) plans to start raising and allocating in the next few months the main part of the 750-billion-euro (906-billion-U.S.-dollar) recovery fund, designed to bail out the bloc's economies hard hit by the COVID-19 pandemic, EU Commissioner for Economy Paolo Gentiloni said Monday. (European Union/Handout via Xinhua)