World Coronavirus Dispatch: EU relief package closer to finalisation

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EU relief package closer to getting finalised: The four EU governments that have been holding up negotiations over a massive stimulus package, estimated at $856 billion, are ready to agree on a key plank of the deal. Netherlands, Austria, Denmark and Sweden are satisfied with $450 billion of the fund being made available as grants with the rest coming as low-interest loans.

The overall package under discussion is worth about 1.8 trillion euros. More than 1 trillion euros will be distributed in grants from the bloc’s regular budget with another 750 billion euros lined up for the emergency stimulus package.