The European Commission (EC) on Thursday introduced the EU4Health program for the next seven years as part of a recovery mechanism to support the European Union in the wake of the coronavirus pandemic
BRUSSELS (Pakistan Point News / Sputnik - 28th May, 2020) The European Commission (EC) on Thursday introduced the EU4Health program for the next seven years as part of a recovery mechanism to support the European Union in the wake of the coronavirus pandemic.
According to the European Commissioner for Health and food Safety, Stella Kyriakides, the EC is expected to invest a total of 9.4 billion Euros ($10.3 billion) in the program.
'We propose possibly what is the most ambitious economic and financial package of our lifetime in response to the COVID-19 pandemic and of course its economic consequences. With the recovery package and the revised EU budget for the next seven years, we put forward a strategic vision. Part of this package is the new EU4Health program which will be a game-changer a real paradigm shift ... our proposal for a standalone funding program for health of 9.4 billion euros is a dedicated response to this cause," Kyriakides said at a press conference in Brussels.
The official added that the program would significantly increase the willingness and ability of the European Union to effectively respond to major health threats through the creation of strategic stocks of medical supplies and medicines, the creation of a pool of qualified personnel and by providing support to physicians.
"This will allow the EU to have more and stronger tools to take quick, decisive and coordinated action with Member States in both preparing for and managing crises, as well as improving the functioning and performance of EU health systems overall," the EC's press release read.
European Commission President Ursula von der Leyen proposed on Wednesday the creation of a new European Union recovery instrument, dubbed Next Generation EU, worth 750 billion euros ($826 billion) to support the bloc's economy amid the COVID-19 pandemic.
The recovery fund was proposed in addition to the EU budget (1.1 trillion euros proposal for 2021-2027 budget) and not as part of it.
The European Union has begun work to establish a common reserve of medical equipment on the continent that could be distributed to member states that need it. The initiative, called the rescEU stockpile, will contain ventilators and protective masks, among other supplies.
