EU leaders have agreed on a landmark 750 billion euro ($860 billion) recovery fund for the reconstruction of the region disrupted by the coronavirus pandemic, Business Insider reported. The agreement was made public after European council president, Charles Michel, tweeted "Deal!" early Tuesday. "These were, of course, difficult negotiations in very difficult times for all Europeans," he said in a statement. After heated debate and difference of opinion on the specifics of grants and loans since last Friday, the heads of states reached common ground on an outline of how to invest the new funds at their first in-person summit in five months. The leaders finally agreed on distributing 390 billion euros ($446 billion) in non-repayable grants, down from an originally proposed 500 billion euros ($641 billon), which was opposed by the Netherlands, Austria, Sweden and Denmark. The 27-member bloc accepted low-interest loans worth 360 billion euros ($412 billion).
