In this situation, it is important to prevent firms and sole proprietors affected by COVID-19 from facing difficulties in financing and to provide an environment where they can quickly restart their businesses as COVID-19 subsides. Taking into account these points, governments and central banks around the world have focused on protecting businesses and employment in response to the current crisis.
The ECB also launched a Regional Workshop Series last year that provides opportunities for policy discussions and technical cooperation. Both of these are based on the regular monitoring and analysis of economic and financial developments in countries which are prospective EU members.