EU finance ministers agree on funds for energy investments

EU countries have agreed on funding to move away from fossil fuels from Russia and invest more in renewable energy. EU finance and economics ministers agreed Tuesday to reallocate funds from the Covid reconstruction fund to provide an additional €20 billion for energy investments. The plan is part of a proposal made by the EU Commission in May, which EU Commission President Ursula von der Leyen described as a “turbo” for the energy transition.

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