Canada just announced $1 billion in funding to help combat the spread of coronavirus across the country.

Prime Minister Justin Trudeau unveiled the new economic package in Ottawa this morning.

WATCH LIVE – I’m at the National Press Theatre in Ottawa giving an update on our response to COVID-19 and announcing additional measures we’re taking to keep Canadians safe & prepare for possible impacts to our economy. Tune in here: https://t.co/uZqRchfkQI

— Justin Trudeau (@JustinTrudeau) March 11, 2020

Of that sum, $200 million will be spent on federal medical supplies and support for the Indigenous community, and $275 million will go towards vaccine research and development.

Canada will allocate $500 million to provincial healthcare systems and to support mitigation efforts across the country.

The federal government will also waive the one-week waiting period for employment insurance to assist Canadian workers and businesses affected by coronavirus.

Trudeau admitted that there is now "reason for concern."

"I think this is a serious situation," he said. "Canadians need to be aware of what they can do to help protect their families and the health of their neighbours. We all have a role to play."

As of March 11, there are now 97 cases of coronavirus in Canada. Ontario has 37 cases, British Columbia has 39 cases, Alberta has 14 cases and Quebec has seven cases.