November 22, 2020
1 min read

Italy Allocates More Funds To Reboot Economy

New funds were allocated in Italy to feed existing relief measures for economic activities, as the restrictions to slow down a second wave of the coronavirus pandemic continued to be implemented across most of the country, the cabinet said.

Contained in a decree passed in the early hours of Saturday, the fresh funds amounted to 1.95 billion euros ($2.3 billion) in 2020, according to a cabinet’s statement.

Some 1.45 billion euros will be allocated as non-repayable financial aid to business activities affected by the restrictive anti-Covid measures imposed earlier this month, reports Xinhua news agency.

Another 400 million euros would go to mayors in order to implement “urgent food aid measures” to struggling households in their cities.

The remaining 100 million euros were destined to Extraordinary Commissioner for the Coronavirus Emergency Domenico Arcuri, who is in charge of the country’s national procurement process in the pandemic, for Covid-19 drug purchases.

The latest provision followed an earlier decree aimed at refunding the economic activities that were ordered to shut down during the second pandemic wave, which was worth 2.8 billion euros and entered into force on November 9.

According to the latest statistics by the Health Ministry, Italy has recorded a total of 1,308,528 Covid-19 cases since the pandemic officially broke out here in late February.

The death toll stands at 49,261.

Along with the containment measures, authorities have recently confirmed a plan for a national vaccination campaign, starting with 1.7 million people by the second half of January.

Also Read-Portugal Announces Ban On Free Movement Between Municipalities

Previous Story

Saudi to boost economy with a new national investment strategy

Next Story

Colombian President urges all to utilise tax-free day

Latest from -Top News

Afghan-Pak tensions threaten South Asian stability

The Afghanistan-Pakistan fighting has impacted civilians on both sides, with people fleeing the border areas while daily movement and trade has been disrupted…reports Asian Lite News The recent tensions between Afghanistan and

Fourth AUSTRAHIND exercise begins in Australia

Primary focus of this year’s exercise is “joint company level counter-terrorism operations in urban terrain and semi urban terrain…reports Asian Lite News The fourth edition of the India-Australia joint military exercise, AUSTRAHIND,

Sanae Takaichi makes history in Japan

From 2022 to 2024, Takaichi was Japan’s Economic Security Minister. She also holds the record as the longest-serving Minister for Internal Affairs…reports Asian Lite News Sanae Takaichi was elected Japan’s next Prime

Cabinet of Japan PM Ishiba steps down

After the prime ministerial vote, Takaichi will finalise cabinet appointments, and the chief cabinet secretary is scheduled to announce the lineup….reports Asian Lite News Outgoing Japanese Prime Minister Shigeru Ishiba resigned with
Go toTop