state how should a Government record Covid-19 vaccine donated by the European Union in their financial statements
Answers
Explanation:
In Europe and in the world, all minds are focused on actions to tackle the outbreak of COVID-19 and mitigate the effects of the crisis. The European Union works on all fronts to support these efforts.
"The coronavirus has not only Europe but the entire global community in its grip and is the world’s common enemy. An enemy we can only defeat with a global approach and cross-border coordination", said EU High Representative Josep Borrell.
To this aim, the European Union has launched its “Team Europe” package to support partner countries in the fight against the coronavirus pandemic and its consequences. The objective of the “Team Europe” approach is to combine resources from the EU, its Member States, and financial institutions, in particular the European Investment Bank and the European Bank for Reconstruction and Development.
The overall figure of the “Team Europe” package reaches almost 38.5 billion euros.
In 2021, the long-awaited vaccines have given us hope that we may be at the beginning of the end of this pandemic. Beyond the EU vaccination plan started on 27 December 2020, the European Union is committed to ensuring that everyone who needs a vaccine gets it, anywhere in the world and not only at home. The EU is the leading donor to support the COVAX Facility, a global collaboration aiming to secure access to the COVID-19 vaccine in low and middle-income countries. The first deliveries of vaccines have been taking place since the end of February 2021.