FRANKFURT, Germany (AP) — Europe is ramping up its recovery plan. And finance officials in Germany and France say there’s no time to lose as the continent lags behind the U.S. and China in recovering from the pandemic recession. German Finance Minister Olaf Scholz and French couterpart Bruno Le Maire laid out plans Tuesday for spending on digitalization and fighting climate change. France should get about 40 billion euros from the EU’s 750 billion euro recovery fund. And Germany should get around 30 billion euros. Countries are also being asked to fix longstanding problems in their economy in turn for the money, which leaders hope will start flowing as early as July.
