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MERCOSUR approves emergency fund to face coronavirus

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Christian Fernsby ▼ | April 7, 2020
The countries of the Southern Common Market (MERCOSUR) agreed to approve a structural convergence fund destined to Research, Education and Biotechnology applied to Health, which seeks to fight the coronavirus, currently hitting the world.
Argentina street
Argentina   Street
According to a note spread by the Argentine Ministry of Foreign Affairs, one of the founding nations of that regional bloc, the fund is estimated at $16-million and it will be exclusively use to fight the novel pandemic.

Topics: MERCOSUR coronavirus

The initiative promoted by MERCOSUR foreign ministers aims to collaborate in coordination with the national authorities of the four State Parties (Argentina, Brazil, Paraguay and Uruguay) in the fight against the novel coronavirus, particularly to improve the national capacities for carrying out detection tests.

As agreed, MERCOSUR will allocate an additional US$5.8 million, an additional US$10 million fund has been included to expand the actions, destined to further increase the testing capacity of the four countries, whose use will depend on the progress of the pandemic.

The proposal was promoted by the Ministry of Foreign Affairs after being presented by the Director of the project, Dr. Eduardo Arzt, of the Biomedicine Research Institute of Buenos Aires at CONICET (National Scientific and Technical Research Council), the source said.