According to the statement, the initiative is meant to "maximize the efficiency of EU funds used in the public interest to respond to crises, such as natural disasters and public health emergencies."
The goods and services that are covered by this proposal include personal protective equipment (PPE), diagnostic tests and testing materials, pharmaceutical drugs, quarantine facilities, and clinical trials.
European Commissioner for the Economy Paolo Gentiloni commented on the proposal saying:
"Today's proposal supports the EU's goal to react to crises and emergencies in the EU. It will also ensure that the financial impact of EU-level relief efforts to fight the pandemic and support the recovery is maximized."