Speed up pandemic fund rollout, ECB's Lagarde tells EU states

The 750-billion-euro ($910 billion) package needed to become operational without delay, she said. The ECB "calls on member states to accelerate the ratification process, to finalize their recovery and resilience plans promptly, and to deploy the funds for productive public spending." she told the bank's post-policy meeting news conference.

European governments need to speed up implementation of their coronavirus recovery fund to help make the region's post-pandemic economic transition a faster and more even one, European Central Bank President Christine Lagarde said on Thursday. The 750-billion-euro ($910 billion) package needed to become operational without delay, she said.

The ECB "calls on member states to accelerate the ratification process, to finalize their recovery and resilience plans promptly, and to deploy the funds for productive public spending." she told the bank's post-policy meeting news conference. EU leaders approved the fund last summer, but bickering between member states over its remit as well as administrative bottlenecks have delayed its rollout.

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