Malta has received the “biggest ever” allocation of EU funds as part of the bloc’s recovery package to help combat the economic downturn caused by the COVID-19 pandemic.

Prime Minister Robert Abela, who was present in Brussels for all four days of the intensive negotiations, took to Twitter to announce the news, labelling it a “great result” for Malta.

#EUCO just reached an agreement on the #mff & Recovery EU. A great result for #Malta – RA

— Robert Abela (@RobertAbela_MT) July 21, 2020

The Next Generations EU COVID-19 package includes €390 billion in grants and €360 billion in loans spread over all 27 member states.

The €2.25 billion stimulus package is the “biggest ever” allocation of EU funds to Malta over the next seven years.

In addition to the COVID-19 stimulus package, the EU agreed to its 7-year budget consisting of €1,074.3 billion.

Malta was hailed as a model country in its fight against COVID-19 and has introduced several stimulus packages throughout the pandemic in an attempt to keep the economy afloat.

On the 1st of July, the country reopened its airport to a select few destinations with more being added to the flight list over the coming weeks.

There are currently four active cases of COVID-19 on the island.

What do you make of this? Let us know in the comments below