EU pledge $250 million to COVID-19 fight

04:05

The European Union has confirmed it will pledge $250 million to help the "global fight" against the COVID-19 outbreak.

Janez Lenarcic, EU's Commissioner for Crisis Management, and Stella Kyriakidou, the Food Safety Commissioner, made the announcement at a press conference in Brussels on Monday.

Janez Lenarcic, EU's Commissioner for Crisis Management, and Stella Kyriakidou, the Food Safety Commissioner announced the funding at a press conference in Brussels on Monday (Source: AP)

The announcement comes as the death toll continues to rise in Italy, this being the worst outbreak of the virus outside Asia to date.

HOW WILL THE MONEY BE SPENT

The money will be spent in a number of ways with the World Health Organisation (WHO), partner countries and member states all benefiting from the funding.

The WHO will receive $123 million as part of their call for global preparedness, whilst partner countries and member states will receive $16 million and $3 million support respectively.

The other $108 million will be spent on research funding, the development of vaccines and patient treatment.

The death toll continues to rise in Italy as Europe sees it's worst outbreak of the virus to date. Italy will receive a small part of the EU's funding directly (Source:AP)

RESTRICTIONS ON TRAVEL AND TRADE

The commissioners have insisted that there is no plan, or even discussions to restrict travel or trade in the Schengen zone (26 countries in Europe).

Mr Lenarcic reacted passionately when asked if it was okay for countries to impose their own border controls "We believe measures should be, first, based on credible risk assessment and scientific evidence. Second, measures should be proportionate and third, they should be taken in coordination with others. We should act as a union here. Not individually."

The Schengen borders code does state that countries are allowed to reintroduce border controls temporarily but only six countries have ever put up restrictions in EU history.

There has, however, already been some border disruption at Italy's border. On Sunday Austria temporarily stopped their train service there and health checks are reportedly taking place on some buses from Italy to France.

Austria temporarily stopped their train service to Italy on Sunday amid fears of COVID-19 (Source: AP)

Remember to sign up to Global Business Daily here to get our top headlines direct to your inbox every weekday.