Canadian PM Justin Trudeau announces a $1 billion COVID-19 response fund.<\/p>\n
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At a news conference in Ottawa, Prime Minister Justin Trudeau confirms<\/a> 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.<\/p>\n Trudeau\u2019s 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\u2019 meeting taking place in Ottawa later this week. (March 11, 2020).<\/p>\n According to Global News Canada<\/a>, $275 million will go to medical research, including funding for a finding a vaccine and launching clinical trials. That\u2019s on top of the $27 million in research funding announced earlier in the week.\u00a0There will also be $50 million in international aid to help other countries fight the spread of the virus.<\/p>\n \u201cThe reality is that the number of people affected by the virus around the globe keeps climbing. I know that\u00a0people across the country are worried,\u201d Trudeau said.<\/strong><\/p><\/blockquote>\n Today, PM @JustinTrudeau<\/a> outlined Canada\u2019s response to #COVID19<\/a>, 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.<\/p>\n — Mona Fortier (@MonaFortier) March 11, 2020<\/a><\/p><\/blockquote>\n\n