OREANDA-NEWS. The leaders of 27 member countrys of the European Union have approved an emergency programme to help the economy of the region in the amount of 540 billion euros, which will be launched on June 1. This was announced on April 23 by the head of the European Council, Charles Michel, at a press conference after the online summit.

The leaders of the EU member states instructed the European Commission to develop the parameters for a future long-term fund for the restoration of the economy, which suffered from the coronavirus pandemic.

In turn, the head of the European Commission, Ursula von der Leyen, said at a briefing that EU member states should increase their contributions to the community budget from 1.2 % to 2 % of gross domestic product over the next two to three years.