Economic response to Coronavirus (COVID-19) in the European Union 2020

Published by
Olan McEvoy,
Feb 22, 2024
In response to the Coronavirus epidemic of 2020, the European Union mobilized funds to combat the public health and socio-economic impact of the virus. Approximately 40 billion euros has been allocated to bridge the short-term financing needs of small and medium-sized business enterprises, the most of any policy response displayed here.

Funds mobilized to combat the impact of Coronavirus (COVID-19) in the European Union in 2020, by policy response (in billion euros)

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Release date

April 2020

Region

Europe, EU

Survey time period

2020

Supplementary notes

* Combined total for the following projects: 48.5 million euros for 18 projects for vaccines and treatment via the EU's Horizon 2020 research programme. 90 million euros in public and private funds for therapeutics and diagnostics via the Innovative Medicines Initiative (IMI).164 million euros for SMEs and startups for innovative solutions to tackle the COVID-19 outbreak via the European Innovation Council accelerator programme.

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