Business News

Malta secures largest ever EU package of €2.25 billion for the next seven years

21 July 2020

The package combines the EU’s Multiannual Financial Framework 2021-2027 and the pandemic recovery package

Malta will be receiving €2.25 billion from the EU over the next seven years – the largest ever allocation for Malta, Prime Minister Roberta Abela said.

The total sum includes €1.923 billion from the EU’s core Multiannual Financial Framework (MFF) 2021-2027 budget, as well as €327 million in grants from the newly established Recovery Instrument, known as Next Generation EU.

Prime Minister Abela said the figure is double the funds allocated for Malta in the last EU Budget 2014-2020.

The deal was concluded after five days of long and intense negotiations on the EU Budget in Brussels among all EU leaders, who agreed on a €750 billion coronavirus pandemic recovery fund and their long-term spending plans.

The long process came to an end with an announcement by European Council President, Charles Michel, who tweeted the news with a simple ‘Deal!’

European Commission president, Ursula von der Leyen, said the more than 90 hours of negotiations – spanning from Friday until early Tuesday morning, had been “worth it”.


Malta secures largest ever EU package of €2.25 billion for the next seven years