EU pledges fund to tackle virus crisis, but no fresh money

EU pledges fund to tackle virus crisis, but no fresh money

The Straits Times - World·2020-03-11 00:27

BRUSSELS (REUTERS) - The European Commission will set up an EU fund with a firepower of 25 billion euros (S$39 billion) from existing resources to tackle the economic crisis caused by the coronavirus, the head of the EU executive said on Tuesday (March 10).

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.

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