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France announces rescue plan for virus-stricken tourism sector

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The French government's coronavirus aid package for the tourism sector is worth 18 billion euros ($19.4 billion).

The plan includes 1.3 billion euros in direct public investment as well as government-guaranteed loans and extended access to a"solidarity fund," Prime Minister Edouard Philippe announced.

The 1.3 billion euros"will generate private investments" for total direct investment in the sector worth about 7 billion euros, said Philippe. The country remains on high alert, with heightened precautions in so-called"red zones" – including Paris and the wider Ile-de-France region – where the virus remains active.

 

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