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EU Approves France Plan for $323 Billion Coronavirus Aid Package

A woman wears a protective mask in light of the coronavirus outbreak in China as she walks at the Trocadero esplanade in front of the Eiffel Tower in Paris, France, February 1, 2020. (Image: REUTERS)

A woman wears a protective mask in light of the coronavirus outbreak in China as she walks at the Trocadero esplanade in front of the Eiffel Tower in Paris, France, February 1, 2020. (Image: REUTERS)

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.

  • AFP Brussels
  • Last Updated: March 21, 2020, 7:55 PM IST
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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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