Canadian PM Justin Trudeau announces a $1 billion COVID-19 response fund.
At a news conference in Ottawa, Prime Minister Justin Trudeau confirms a $1-billion federal fund to help provinces and territories cope with the coronavirus (COVID-19). The fund is also set to help health-care workers cope with the increasing number of new cases and to help Canadian workers who are forced to isolate themselves.
Trudeau’s news conference follows the tumultuous start to the week for the economy, as financial markets plunged in response to COVID-19 fears and a sharp drop in global oil prices. His announcement precedes the First Ministers’ meeting taking place in Ottawa later this week. (March 11, 2020).
According to Global News Canada, $275 million will go to medical research, including funding for a finding a vaccine and launching clinical trials. That’s on top of the $27 million in research funding announced earlier in the week. There will also be $50 million in international aid to help other countries fight the spread of the virus.
“The reality is that the number of people affected by the virus around the globe keeps climbing. I know that people across the country are worried,” Trudeau said.
Today, PM @JustinTrudeau outlined Canada’s response to #COVID19, by establishing a more than $1 billion Response Fund. This comprehensive approach includes measures already underway to respond to the outbreak, as well as new investments to limit the spread of the virus in Canada.
— Mona Fortier 🇨🇦 (@MonaFortier) March 11, 2020
