3/7/2020, 11:38 AM (Source: TeleTrader)
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Intesa Sanpaolo offers €100M for COVID-19 fight

Italian bank Intesa Sanpaolo S.p.A. said on Saturday it is willing to give the country €100 million to help it fight the outbreak of the coronavirus.

"We are ready to donate up to €100 million and make them available to the country for specific projects needed to tackle the health emergency. A lot can be done with €100 million," Intesa CEO Carlo Messina told Corriere della Sera. He added the bank is also ready to grant €5 billion in loans to firms affected by COVID-19.

Italy has confirmed 4,636 cases and 197 deaths from the coronavirus, making it the world's fourth most affected country behind China, South Korea and Iran. On Friday, analysts warned that Italy is set to enter a recession as a result of the outbreak.

Breaking the News / NP