coronavirus, economy revival, financing during crisis


The study of financing approaches during the global crisis remains relevant due to new factors that emerge during each new crisis. In 2020, this issue renewed its relevance due to the inability to use the same economic levers that were used to save the financial system during the crisis that began in 2008 because of the already record low interest rates on loans in developed countries, which could no longer be lowered to obtain significant effect on the economy.

The article is devoted to exploring the global crisis of 2020, trends and direction of funding during crises. The coronavirus pandemic has led to a "major halt" in business, disrupted global supply chains and slowed the economy, the final impact of which is difficult to predict. In the world economy, Governments and international financial organizations are planning measures of monetary stimulation on an unprecedented scale to restore financial markets and prevent the complete shutdown of all production. At the time of this writing, 2.2 trillion dollars for USA, 3 trillion Euro for the EU and about 400 billion dollars for China rescue / incentive packages were approved.

This article discusses the challenges posed by the crisis that has arisen from the spread of the coronavirus pandemic and how states respond to them, as well as where the funding from economic stimulus packages is directed.

This article discusses the challenges posed by the crisis, which is unfolding at three levels: in the health sector, in demand reduction for goods and services, and in significant capital outflows. The actions of the US, EU and Chinese governments in the context of crisis management are also analysed. It is determined that in order to successfully overcome the crisis, it is necessary to introduce the correct combination of financial, monetary and fiscal measures to provide the following opportunities: to people – to meet their basic needs; to business – to recover after the worst phase of the crisis caused by the coronavirus pandemic; to state – to find funding available under economic stimulus packages.


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Author Biographies

Tetiana Girchenko, Institute of Banking Technologies and Business Banking University (Kyiv)

Professor of Finance, Banking and Insurance Department

Oleksandr Yaroshenko, Banking University (Kyiv)

Masters Student


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How to Cite

Girchenko, T., & Yaroshenko, O. (2020). APPROACHES TO FINANCING DURING GLOBAL CRISIS. European Cooperation, 2(46), 32–40.