ZURICH (Reuters) – Switzerland will make 10 billion Swiss francs ($10.5 billion)available in immediate assistance to support businesses hit by the coronavirus, the government said on Friday as it ramped up its response to the widening pandemic.

It will also impose checks on all borders and close schools until at least April 4, it said, as the number of confirmed cases of the flu-like virus in Switzerland and Liechtenstein surpassed 1,000. The government also banned events with more than 100 people, tightening existing curbs.

President Simonetta Sommaruga described the situation as difficult, requiring drastic measures to be rolled out immediately.

The government’s goal was to protect the health of citizens and support businesses, she told a news conference in Bern.

“We have the means and capability to deal with this situation medically and financially,” Sommaruga said.

“These measures only make sense if we all keep to them, that will slow the spread of the disease,” she added.

The measures would come into force immediately and most run until at least April 30, the government said. The goal was to protect elderly people and those with health conditions which made them particularly vulnerable to the new coronavirus.

The government has allocated 10 billion francs in emergency aid, with most of it earmarked to support companies hit by slumping demand.

Most of the money will be made available for companies forced to go to short-time working, while the waiting time before firms can apply for financial assistance has been shortened.

The government said it would examine if the compensation could be applied to contract workers and temporary staff.

For companies that are particularly badly hit, the government said it has allocated 1 billion francs for direct financial assistance or bridging. Small and medium-sized business with financial bottlenecks can access up to 580 million francs in guaranteed bank loans.

“The government wants to support our economy quickly and unbureaucratically,” said Economic Affairs Minister Guy Parmelin.

“I am convinced that everyone is committed to overcoming the crisis,” he added.

As part of the preventative measures, bars, restaurants and nightclubs will not be allowed more than 50 guests at once.

Source: Read Full Article