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EU approves France plan for 3 billion euro coronavirus aid package

The EU body approved three measures by France 'to help its economy manage the impact of the coronavirus outbreak.'

Published: 21st March 2020 07:34 PM  |   Last Updated: 21st March 2020 07:34 PM   |  A+A-

A patient under respiratory assistance is escorted to the Strasbourg University Hospital by members of the medical staff of the SAMU-SMUR emergency services who wear protective suits and facemasks, in Strasbourg, on March 16, 2020 during a COVID-19 outbre

A patient under respiratory assistance is escorted to the Strasbourg University Hospital by members of the medical staff of the SAMU-SMUR emergency services who wear protective suits and facemasks, in Strasbourg, on March 16, 2020 during a COVID-19 outbre

By AFP

BRUSSELS: The European Commission on Saturday approved a proposal by France to guarantee up to 300 billion euros (USD 323 billion) in state aid to ease the economic burden of the coronavirus.

The EU body approved three measures by France "to help its economy manage the impact of the Coronavirus outbreak," said Margrethe Vestager, executive vice president in charge of competition policy at the EU Commission.

"These are expected to mobilise 300 billion euros of liquidity support for companies affected by this unprecedented situation.....We are working around the clock with member states to enable them to take swift, effective and targeted action," she added.



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