Home News The EU gives € 25 billion to fight the corona virus

The EU gives € 25 billion to fight the corona virus


Leaders of EU member states during a video conference dedicated to the European response to the corona virus epidemic agreed on a coordinated approach to limit the spread of the virus, supply medical equipment and address the socio-economic consequences of the epidemic.

The daily consultations of the Ministers of Health and EU Internal Affairs were announced, as well as the formation of a Corona Investment Fund in the amount of EUR 25 billion.

European Council President Charles Michel, who also called for this extraordinary conversation between the presidents and prime ministers of the member states, says four priorities for work have been identified when it comes to the EU’s response to the corona virus epidemic.

– First, limiting the spread of the virus, taking proportionate measures in accordance with scientific and medical facts, coordinating the delivery of medical equipment for the regular functioning of the internal market, as well as promoting research into the development of vaccines, diagnostics and treatment of patients with Covid-19 – stated Michelle.

European Commission President Ursula fon der Layen said the most important thing at this point was to stop the rapid spread of the virus.

– The virus will continue to spread. The most important thing is to slow it down as much as possible, because if there are too many infected in a short time, there will be a lot of pressure on the health system – said Fon der Layen.

Agreeing on a daily basis

The EU adds that € 120 million has already been invested in the field of corona virus vaccine research.

Concerning the socio-economic consequences of the epidemic, Brussels says they are ready to use all the necessary instruments and funds to help the affected businesses and workers and maintain positive economic parameters.

– In addition to state aid and Stability and Development Pact funding, the EU will also set up a Corona Investment Fund of € 25 billion to support health systems, businesses, the labor market and other sensitive parts of the economy – Ursula von der Layen said.

She added that the European Commission would coordinate with the Member States’ Ministers of Health and Home Affairs on a daily basis in order to know “who, what and how is working and how all measures could be coordinated, appropriate and timely”.

The EU says there are no announcements at this time to close internal borders to stop the spread of corona virus, but further measures will be agreed on a daily basis.




Please enter your comment!
Please enter your name here