General News

The cost of Coronavirus, the World has set $3 trillion to the side so far

The economy of the World has gone for a throw due to the effects of the Coronavirus. The World dedicates the amount of $3 trillion to fight with the increasing impact of the mystifying new infection.

Europe is bearing the cost with the central bank distribution of $820 billion in its Epidemic Emergency Buying Programme. This plan is going to increase $4 trillion while other intentional incentive packages are also ready.

Top most 10 countries financial support

  • China

Government Figure: At least 5 million people in China lost their jobs. The pandemic cost to china is up to $196 billion. 

  • European Union

The European Central bank offers $820 billion extra funds to support the financial burden on its associate countries. 

The European Union Commission Proclamation

There is a $43 billion corona investment trust to support the finance, healthcare setup, and other critical sections. He also stated that the running EU asset aid would make sure the $9.3 billion in loans. This fund contains 100, 000 small, and average initiatives. 

  • US

The central American fall-back is fast on the draw, as it minimizes interest rates to zero. It is also fast as it threw a $700 billion incentive program to secure the US budget. 

In February, the Trump management insert $8 billion in an attempt to control the Covid-19. Currently, the US is also focusing on attaining a $1 trillion coronavirus incentive fund permitted by congress.  

  • Germany

The central bank is ready to loan the $610 billion to companies. The purpose of this fund is also to secure the jobs of the employees. 

  • UK

In the UK the situation is not peaceful. Due to the bad effect of the Coronavirus, Chancellor Rishi Sunak also declared a $403 billion link for the company. 

  • Spain

The stock market of Spain missed 40% of its values within a few days. The government approved a $222 billion incentive package on March 17. ​

  • Japan

The central bank is going to purchase the ETFs cost $113 billion during the year.  The administration also revealed a $4 billion helping fund to support the SMEs. 

  • Canada

Canada is the northern neighbor of the US. The Canadian government locked the boundaries. The administration is also not permitting general travel. The prime minister also approved $27 billion for direct economic help and $55 billion for tax delays.  

  • France

France approved its personal incentive aid to control the epidemic of coronavirus outburst on its budget. The minister also announced a $51 billion incentive package to support the 3.5 million corporate to control the influence. 

  • South Korea

At the start of the epidemic, South Korea attribute $240, 000 cost of loans for the airline section. On March 4, the government again attributes a $9.8 billion incentive package for tax income and business support. 

About author


A technology enthusiast since childhood, Ryan is known for his impeccable knowledge in the technology and gadgets niche. He has been working with TheTechly as a contributor for Tech/Gadgets category and his articles are always well-researched and accurate.
Related posts
General News

NPP: Apollo's CBDC Providing A Sovereign Currency That Advances The Qualities of Fiat Money

China was the first nation to introduce government-issued banknotes in the 11th century; however…
Read more
General News

The First CBDC Platform Redefining Mobile Transactions; Both Online and Offline SMS

The mobile market is substantially growing since its discovery, with vendors like Samsung and Apple…
Read more
General News

WOM Protocol partners with CoinPayments, the world’s largest cryptocurrency payments processor

Singapore, 01 September 2020— WOM Protocol, a next-gen MarTech solution that enables brands…
Read more
Become a Trendsetter

Sign up for TheTechly’s Daily Digest and get the latest and trending technology updates.

[mc4wp_form id="729"]