EU Commissioner for Economy Paolo Gentiloni speaks at a news conference on the fostering the openness, strength and resilience of Europe's economic and financial system in Brussels, Belgium January 19, 2021 at the European Union headquarters. Kenzo Tribouillard/Pool via REUTERS
BRUSSELS (Reuters) - The European Commission is likely to tap financial markets in "late spring" to finance pre-payments for 27 national plans for recovery from the pandemic, seeking to borrow tens of billions of euros, European Economic Commissioner Paolo Gentiloni said.
February and March would be key months for the Commission's assessment of how each of the 27 EU governments wants to spend its share of the EU's 750-billion-euro recovery fund, which will then be validated by EU finance ministers, he said.
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