EU approves economic recovery plans of Italy, France, Spain

European Union finance ministers approved on Tuesday investment plans of 12 states, including Italy, Spain, and France, paving the way for the first disbursements of grants and loans from the bloc to boost recovery from the coronavirus crisis.

Ministers in Brussels gave their green light to the plans - also by Austria, Belgium, Denmark, Germany, Greece, Latvia, Luxembourg, Portugal, Slovakia - an EU statement said.

It was the first batch of approvals of national investment programs under the EU recovery plan.