While the total cash being thrown at the challenge amounts to trillions of euros, that masks deep national differences between the amount and type of aid on offer. To be sure, the purpose of the European Union’s 750-billion-euro joint recovery fund is to iron out such differences and make sure the wealth gap doesn’t get larger. In the meantime, national differences prevail. That includes 100 billion euros to recapitalise and buy stakes in companies affected by coronavirus, 23.5 billion in wage subsidies for those working on reduced hours, and 18 billion in direct grants to small companies in greatest need. The government there backed credits of 140 billion euros to businesses and banks negotiated grace periods with companies on repayment schedules.

Source: Dhaka Tribune November 02, 2020 12:11 UTC