Former Prime Minister Alfred Sant voted in favour of a European Parliament resolution that endorses the Coronavirus Response Investment Initiative.

The initiative forms part of the EU’s joint response to the COVID-19 outbreak and includes measures meant to channel €37 billion from available EU funds as soon as possible to citizens, regions and countries hit the hardest by the Coronavirus pandemic.

Funds will be directed towards healthcare systems, SMEs, labour markets and other vulnerable parts of EU member states’ economies and will support the development of regions including the fishing industry. The European Parliament adopted the Coronavirus Response Investment Initiative with 683 votes in favour, 1 against and 4 abstentions.

Sant insisted that this initiative must be implemented with total urgency because it is imperative to deploy meaningfully all available cash reserves held by the EU in this very delicate moment.

“More needs to be done at EU level. We are all waiting for encouraging signs from the EU and its Member States to demonstrate that that they really are putting all available resources together to sustain the continent’s economy and the health of its people”

In an explanation of his vote, Alfred Sant told the European Parliament that Europe is in quasi-lockdown, economic activity is grinding to a halt and many people are making huge sacrifices to keep going. Therefore, measures must be supported that aim to increase flexibility when EU funds are disbursed to assist economic sectors directly hit by the pandemic we are experiencing.

Furthermore, it is also important to boost investment in health care and in other sectors that are relevant to the containment of the corona virus pandemic.

“I am very satisfied that this Commission proposal also takes into account the damage that fishermen might suffer in the context of a public health crisis,” Sant said.