A new set of policies has been announced to ensure sufficient funding to contain the novel coronavirus, according to a statement jointly issued by the Ministry of Finance and the National Health Commission on Saturday.

The central and local governments will provide subsidies to people infected with the novel coronavirus pneumonia. Apart from payments by the basic medical insurance, serious illness insurance and medical assistance system, any medical costs which must be personally paid for will be subsidized, said the statement.

Medical staff and epidemic prevention workers will receive temporary work subsidies from the government, the statement said.

Local governments will arrange funds for medical institutions to purchase special equipment for protection, diagnosis and treatment for epidemic prevention and control, as the two ministries required.

The Ministry of Finance allocated a total of 1 billion yuan ($144.2 million) on Thursday to support the battle against the new virus. And the China Development Bank, one of the country's major policy banks, offered emergency loans worth 2 billion yuan on Friday to Wuhan for prevention and control of the novel coronavirus.