Some 8,000 Romanian Jewish Holocaust survivors living in Israel will officially be recognized by Germany and receive a monthly compensation up to $225, the German government said.

The statement Thursday by the German government also said the move will include retroactive payments to cover the last 20 years. Every survivor is set to receive a total of anywhere between $27,000 to $54,300 in addition to the monthly compensation.

The move is expected to cost Germany about $420 million in reparations.

Read more at Arutz Sheva.