Germany offers unlimited credit to companies hit by coronavirus

German Chancellor Angela Merkel, right, smiles as she and German Finance Minister Olaf Scholz, left, arrive for the weekly cabinet meeting at the Chancellery in Berlin, Germany, on Wednesday, February 19, 2020. (AP)

The German government on Friday promised ‘unlimited’ credit to help companies hit by the coronavirus pandemic, as part of a massive help package worth at least half a billion euros.

“There is no upper limit to the credit offered by state-owned development bank KfW, that's the most important message,” German Finance Minister Olaf Scholz said.

Germany had confirmed some 1,300 infections as of Wednesday, with two deaths. The government has recommended the cancellation of all events with more than 1,000 people, among other things.

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Last Update: 11:06 KSA 14:06 - GMT 11:06