Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Court ruling expected on Gabon's contested election results

Read more

MEDIAWATCH

Clinton's Comedy Turn

Read more

THE WORLD THIS WEEK

Sarkozy's Populist Pivot, Bahamas Leaks, Syria Truce, Rome Olympic Bid (Part 2)

Read more

THE WORLD THIS WEEK

US Police Shootings: Race relations and the race to the White House (Part 1)

Read more

#TECH 24

Breaking the wall between technology and people

Read more

FRANCE IN FOCUS

Rural France: Challenges and opportunities

Read more

REPORTERS

Video: In Burma, ex-political prisoners struggle to return to normal life

Read more

ENCORE!

Xavier Dolan: Wunderkind of Québecquois cinema

Read more

FOCUS

The battle for UK Labour’s leadership

Read more

Americas

Government unveils 11.4 billion euro rescue package

Latest update : 2009-02-08

The Norwegian government has announced that this package comes on top of an additional 40 billion Euro bank rescue launched in October, and another stimulus package announced last month. (Pictured: PM Jens Stoltenberg)

AFP - The Norwegian government unveiled Sunday an 11.4- billion-euro (14.7-billion-dollar) rescue package aimed at helping companies and individuals struggling with the global economic crisis.
   
The package comes on top of a 350-billion-kroner (40-billion-euro) bank rescue and loan guarantee package launched in October and a 20-billion-kroner stimulus package announced last month aimed at combating the economic crisis.
   
Norway's centre-left government proposed in the latest rescue package the creation of two funds, each worth 50 billion kroner.
   
The first is aimed at increasing banks' liquidity and the second is aimed at providing credit directly to companies struggling to obtain funds on the market.
   
"We are doing this to boost employment, strengthen the Norwegian economy, and help create companies," Prime Minister Jens Stoltenberg told reporters.
   
 

Date created : 2009-02-08

COMMENT(S)