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EU Commission approves Ireland's 989 million euro recovery plan

·1-min read
FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels

BRUSSELS (Reuters) - The European Commission on Friday gave the green light to Ireland's 989-million-euro ($1.2 billion) plan to recover from the pandemic and transform the economy to become greener and more digitalised in coming years.

Ireland will receive grants from the 800-billion-euro European Union recovery fund approved by the 27 member states to help their economies rebound from the pandemic.

It plans to use 42% of the money for climate objectives including measures supporting energy efficiency, sustainable mobility, biodiversity and ecosystems.

Ireland has earmarked 32% for digital goals, among them enhancing connectivity, digitalising its public administration and companies and promoting digital skills in schools.

Ireland, which has attracted high-profile multinationals with its low tax regime, will also introduce measures to tackle money laundering and aggressive tax planning.

($1 = 0.8471 euros)

(Reporting by Foo Yun Chee; Editing by Mark Heinrich)

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