Children wear facial masks in Damacus, Syria (Source: Xinhua/ VNA)

European Commission head Ursula von der Leyen said the money will help countries with weak healthcare systems deal with COVID-19 and will aid their long-term economic recovery.

Mario Centeno, the head of the Eurogroup of Eurozone finance ministers, called for an economic rescue plan  but not at the level of ambition called for by Italy and Spain. Germany and the Netherlands proposed using the Eurozone’s bailout fund, known as the European Stability Mechanism (ESM), and issuing loans to EU companies through the European Investment Bank.