France creates over $4 billion fund to protect struggling startups from coronavirus

France creates over $4 billion fund to protect struggling startups from coronavirus

- France has allocated $4.3 billion for its startups as the coronavirus negatively affects businesses all over the world

- The French government has in the last five years, heavily invested in support for startups, making them one of the best in Europe

- France's Economic Minister, Bruno Le Maire, has compared the current crisis to the great depression of 1929

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The French government has set aside a $4.3 billion relief programme for startups in the country.

The decision is an attempt to protect the businesses as the coronavirus continues to affect people and economies all over the world.

YEN.com.gh understands that the government spent the last five years providing support for startups in the country and this led to an upsurge into the top ranks of European startup hubs.

READ ALSO: WHO and technology companies team up to develop software to battle the coronavirus

In a bid to sustain the momentum, France’s Digital Minister, Cedric O, has given details of a financial rescue plan for the startups.

Per a report by Venture Beat, France’s Economic Minister, Bruno Le Maire, earlier outdoored a massive financial relief plan aimed at businesses and individuals.

Le Maire argued that the current crisis the world faces can be compared to the Great Depression of 1929.

France creates over $4 billion fund to protect struggling startups from coronavirus

France's president, Emmanuel Macron Source: politico.com
Source: UGC

In other news, in a bid to promote the use of digital payment options as the coronavirus continues to affect hundreds of thousands of people all over the world, Ghanaians would no longer be charged for such transactions.

According to the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), the aim is to limit the spread of the coronavirus through cash.

The waiver of the fees is set to be introduced from Monday, March 23, 2020, and would apply to any amount.

READ ALSO: Coronavirus: Kasapreko Company Limited to mass-produce hand sanitisers; not for profit

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Source: Yen.com.gh

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