EU countries and institutions allocate €3.3 trillion to support economy / News / News agency Inforos
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EU countries and institutions allocate €3.3 trillion to support economy

EU countries and institutions allocate €3.3 trillion to support economy

All 27 EU states and EU institutions (the European Commission, the European Central Bank and the European Investment Bank) have allocated a total of €3.3 trillion to support the community’s economy amid the coronavirus pandemic, President of the European Commission Ursula von der Leyen said at a briefing following a video conference of EU leaders.

According to her, all measures taken by EU countries and EU institutions reach €3.3 trillion to support the economy, TASS reports.

A source in the European Commission told TASS, this sum consists of €540 bln of emergency program for restarting the European economy, €70 bln of assistance from the budget of the European Union to European companies, about €2.45 trillion for soft loans and subsidies by member states to their businesses, and €330 bln of tax incentives provided by countries to their companies.

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