The European Bank for Reconstruction and Development on Thursday announced a €21 billion ($22.7 billion) package to step up its support amid the novel coronavirus pandemic.

The support package will cover the period of 2020-2021, the bank said in a press release.

“The Bank has approved a comprehensive set of response and recovery measures including … five components,” namely resilience framework, trade finance, restructuring, support for new clients, and vital infrastructure, it said.

The bank also focused on sectors hardest hit by the crisis such as tourism, finance, manufacturing, and agribusiness.

“[The bank] will use well-established practices to deploy

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