Chapter News

OECD Secretary-General: coronavirus “war” demands joint action

Wednesday, March 25th, 2020

Commits policy support, saying efforts must have “Ambition of Marshall Plan, vision of New Deal” 21/03/2020 – OECD Secretary-General Angel Gurría called today for sweeping joint action by governments to defeat the health, economic, and social threats of the coronavirus (Covid-19) pandemic.  In calling on governments to better coordinate their efforts, Gurría announced that the […]

Coronavirus: EU countries to get help from Solidarity Fund

Tuesday, March 24th, 2020

The European Parliament is mobilising additional funds to help the EU countries hardest hit by the coronavirus pandemic. In an extraordinary plenary session on Thursday 26 March, MEPs will vote on a European Commission proposal to allow member states to request financial assistance from the EU Solidarity Fund in their fight against Covid-19. The proposal is part of a […]

Questions and Answers on the IMF’s $50 Billion Rapid-Disbursing Emergency Financing Facilities

Tuesday, March 24th, 2020

Last Updated: March 19, 2020 As announced by Managing Director Kristalina Georgieva on March 4, 2020, The IMF stands ready to support vulnerable countries with different lending facilities, including through rapid-disbursing emergency financing, which could amount up to $50 billion for low-income and emerging markets. Of this, $10 billion is available at zero interest for the […]

State aid: Commission adopts Temporary Framework to enable Member States to further support the economy in the COVID-19 outbreak

Monday, March 23rd, 2020

The European Commission has adopted a Temporary Framework to enable Member States to use the full flexibility foreseen under State aid rules to support the economy in the context of the COVID-19 outbreak. Together with many other support measures that can be used by Member States under the existing State aid rules, the Temporary Framework enables […]

Coordinated central bank action to further enhance the provision of US dollar liquidity

Monday, March 23rd, 2020

Please see below a a press release from the European Central Bank (ECB): • ECB and other major central banks to offer 7-day US dollar operations on a daily basis • Operations with 84-day maturity continue to be offered weekly • New frequency effective as of 23 March 2020, to remain in place for as […]

EIB Group: Coronavirus crisis response

Monday, March 23rd, 2020

Please see below an overview of the European Investment Bank (EIB) Group’s response to the COVID-19 outbreak.  EIB Group: Coronavirus crisis response Compliments of the EIB.

NYC Coronavirus Update from NYC Mayor’s Office – March 19

Friday, March 20th, 2020

An updated message from NYC Mayor Bill de Blasio’s Office for International Affairs regarding NYC’s response to COVID-19. Thursday, March 19, 2020. Dear Colleagues, As part of our ongoing efforts to keep you informed on the City’s response to COVID-19, the NYC Mayor’s Office for International Affairs is sharing the following information from Mayor Bill […]

The new EU legal framework for State aid to support the economy in the current COVID-19 outbreak: flexibility and efficiency

Friday, March 20th, 2020

Following the publication of the proposal a few days ago, on 19 March the European Commission adopted the communication introducing a new temporary legal framework for State aid measures to support the economy in the current COVID-19 outbreak. The last time the Commission had adopted a similar temporary framework was during the global financial crisis […]

COVID-19: Commission creates first ever rescEU stockpile of medical equipment

Thursday, March 19th, 2020

Today, the European Commission has decided to create a strategic rescEU stockpile of medical equipment such as ventilators and protective masks to help EU countries in the context of the COVID-19 pandemic. President Ursula von der Leyen said: “With the first ever common European reserve of emergency medical equipment we put EU solidarity into action. It will benefit all our Member […]

European Commission’s action on coronavirus

Thursday, March 19th, 2020

President Ursula von der Leyen has proposed a comprehensive set of measures that will: Ensure the adequate supply of protective equipment and medical supplies across Europe; Cushion the blow for people’s livelihoods and the economy by applying full flexibility of EU fiscal rules; Set up a EUR 37 billion Coronavirus Response Investment Initiative to provide […]