Africa Media Fund set to invest in media assets across the continent

Over 80 of the world's wealthiest individuals have called for higher taxes on the rich in order to fund the coronavirus recovery. In an open letter, the group Millionaires for Humanity said charity is not the solution.

European leaders have finally reached an agreement on the bloc's next long-term budget and a Covid-19 recovery fund. Northern and southern countries found a compromise on the proportion of grants to be included in the stimulus package by offering increased budget rebates to the "frugal" countries. The frugals also managed to get an emergency brake instrument into the deal – it means that if other member states think one country isn't spending its aid money wisely, they can hit pause on payments while they review how the money is being used.

EU leaders went the distance to agree a historic coronavirus recovery fund for the bloc. But doling out €750 billion in grants and loans will be a tricky task. Paying it back will be even harder.

European leaders have agreed an unprecedented €750 billion recovery fund in order to help economies struggling after the coronavirus pandemic. How will the support be distributed? And how will the money be repaid? We take a closer look.

Why did Turkey choose this moment to reconvert Istanbul's Hagia Sophia from a museum back into a mosque? François Picard's panel looks at trouble at home and abroad as President Recep Tayyip Erdogan's rivalry with Egypt heats up over Libya. Also, after Portland, US President Donald Trump vows to deploy paramilitaries to Chicago and other US cities, plus South Africa's Covid blues with schools forced to shut again... and just how historic is the EU recovery plan?Produced by Alessandro XENOS and Anna PEREIRA

Here are a few reasons to pick up a copy of The Guardian on Monday. Find these stories and much more when you grab a copy of The Guardian on Monday.

Leaders have agreed to pass the new budget and coronavirus recovery fund, including holdouts Hungary and Poland. The two countries had blocked the passage over wording that tied the funds to upholding the rule of law.

The package could help the European Union recover from the pandemic by boosting environmental schemes and digital transformation. The stimulus was endorsed by an overwhelming majority of EU lawmakers.

Several major banks are set to lose billions of dollars over links to the hedge fund Archegos, after financial troubles at the firm sparked a massive sell-off of shares. Nomura and Credit Suisse have said they will suffer significant losses, which caused their share prices to plunge on Wall Street on Monday. Archegos was backed by former star trader Bill Hwang. Also today, we look at how the wine industry in Argentina has seen rising sales during the pandemic.

The German Constitutional Court's decision paves the way for Berlin to ratify the EU's €750 billion recovery fund. Judges said they had not found any indication that the approval was unconstitutional.

Nigerians for the reformation of the Nigerian Police force, has thrown up the Police Trust fund which is primarily tasked with raising money to help in training and retraining of police personnel.

The European Commission has given the green light for France's request for €40 billion from the bloc's coronavirus recovery fund. More than half the money will be used for green transition and digital investments. Also in the show: on the five-year anniversary of the Brexit referendum vote, British businesses reflect on what's worked and what hasn't.