Recovery fund crucial for Italy - Di Maio

Recovery fund crucial for Italy - Di Maio

The European Union's proposed 750 billion euro fund to help the bloc's economies recover from the ravages of the COVID-19 pandemic is "crucial" for coronavirus-hit Italy, foreign minister Luigi Di Maio tweeted on Friday.

"These are extremely important hours in Brussels that will determine the future of Italy and the whole of Europe," read the tweet, referring to the EU leaders summit that kicked off on Friday.

"The recovery fund is crucial for Italy," the tweet underlined.

In a separate tweet, Di Maio urged EU leaders to reach an "ambitious" agreement on the rescue fund, which the European Commission proposed be made up of 500 billion euros of grants and 250 billion euros of loans.