EU leaders remain divided on how to structure a proposed COVID-19 recovery fund for European economies, the head of the European Commission said on Friday, with the balance of loans and grants still to be agreed.

In about four hours, the leaders of the 27 member states expressed their views on the multi-year fiscal framework and the Commission’s Recovery Plan by video conference.

“The discussions also showed differences of opinion on various issues … on the balance between grants and loans,” Commission President Ursula von der Leyen told a news conference following an EU summit by video.

“I’m sure that … we can reach a consensus provided, we do not lose sight of the big picture,” she said.

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