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HomeEconomyFrance guarantees Ksh34 trillion in loan to boost business amid COVID-19 outbreak

France guarantees Ksh34 trillion in loan to boost business amid COVID-19 outbreak

France President Emmanuel Macron announced Monday that his government will support French businesses by guaranteeing £ 300 billion (Ksh34 trillion) worth of loans.

Macron said no business in France will be allowed to collapse due to the outbreak of coronavirus.

“No French Company, whatever its size, will be exposed to the risk of collapse.” Said Macron.

France also announced that it is suspending rent and utility bills owed by small companies due to the coronavirus pandemic.

In a bid to safeguard the wellbeing of its citizens, the French government announced it will also support its healthcare staff by paying for hotels, taxis and childcare during the coronavirus crisis,

“We also owe them peace in their travel and rest: this is why, from tomorrow onwards, taxis and hotels can be mobilized for their benefit. The state will pay.”

France officially entered lockdown at midday Tuesday local time (7 a.m. ET) as part of a number of measures announced, even as the virus continues to multiply globally with more than 170,000 people affected,

It announced that all non-essential outings are outlawed and can draw a fine of up to £ 135 (Ksh.15,373).

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Digital Desk, Metropol TV

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