EU pledges 25 billion euros fund to tackle coronavirus crisis

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EU pledges 25 billion euros fund to tackle...
 © CyprusMail 2020
The European Commission will set up an EU fund with a firepower of 25 billion euros ($28 billion) to tackle the economic crisis caused by the coronavirus outbreak, the head of the EU executive said on Tuesday.

Speaking after an emergency videoconference of EU leaders, Ursula von der Leyen said the investment fund should be financed with 7.5 billion euros of EU money and help vulnerable sectors of the economy.

“This instrument will reach 25 billion euros quickly. To realize this I will propose to council and parliament this week to release 7.5...


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EU pledges 25 billion euros fund to tackle coronavirus crisis


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Article Tags: pledges, billion, euros, tackle, coronavirus, crisis,