Switzerland is prepared to raise $21 billion loan package

Lending under the program began last week, and there have already been 30,000 applications, Maurer said in an interview with the newspaper published on Sunday. The government has guaranteed roughly 4 billion francs worth of lending in just two days, he said.

Officials have shut down non-food shops, restaurants, theaters and gyms to control the coronavirus epidemic. The economy is expected to suffer a recession, and more companies have already asked to participate in the government’s reduced-hour program than during the 2008 global financial crisis.