The 27-nation EU remains deeply divided over what conditions should be attached to the funds and today's proposal from the EU’s executive arm is likely to set off weeks of wrangling.

Axar.az reports citing foreign media that the EU's executive is proposing an $825 billion recovery fund to help the bloc's economy through the painful recession triggered by the coronavirus pandemic, commissioner Paolo Gentiloni said Wednesday.

Gentiloni, who is in charge of economic affairs at the commission, wrote in a tweet that the move is “a European turning point to face an unprecedented crisis”.

However, the 27-nation EU remains deeply divided over what conditions should be attached to the funds, and Wednesday’s proposal from the EU’s executive arm is likely to set off weeks of wrangling.

Details of the proposal are due to be unveiled later on Wednesday.