PM announces new economic measures for virus

Italian Prime Minister Giuseppe Conte has announced a 400 billion euros (434.8 billion US dollar) package of additional economic aid for small, medium and large Italian companies struggling in the wake of the new coronavirus.

The aid will be administered as loans, through banks, and is aimed at boosting both domestic economy and exports.

Italian businesses are facing a major crisis due to the shutdown of all non-essential factories and enterprises to limit the spread of the virus.