During the EU leaders videoconference on the 9th of March, the European Commission received a mandate to further step-up its response to the crisis to contain the spread of the virus and help patients, and to counter the economic fallout.
The President of the European Commission announced several measures to counter the economic and sanitarian crisis.
On the health front, the Commission mobilized 140 million euro of public and private funding for promising research on vaccines, diagnosis and treatment.
On the economic front, amongst the tools mobilized, the Commission announced a “Corona Response Investment Initiative” directed at the health care systems, SMEs, labour markets and other vulnerable parts of our economies. The investment will be sizable and reach €25 billion quickly.