BUSINESS

Eurozone govts agree on cheap loans for countries hit by pandemic, sources say

TAGS: Euro, Coronavirus, Economy

Eurozone finance ministers agreed on Friday to offer cheap credit lines that can be tapped until the end of 2022 by countries hit by the coronavirus pandemic, two European officials said.

"All agreed. The program can be used until the end of 2022," one of the officials said.

The loans will be provided by the European Stability Mechanism (ESM), the EU rescue fund, and will have a maturity of 10 years, the second official said.

[Reuters]

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