On Tuesday 24 March, the European Commission validated a Luxembourg aid scheme worth €300 million for companies affected by the coronavirus outbreak.
The scheme was authorised under the Temporary Framework for State Aid to support the economy in the context of the COVID-19 pandemic, adopted by the Commission on 19 March (see EUROPE 12450/7).
The day before, the Commission had approved a loan guarantee scheme and a subsidised loan scheme put in place by Latvia for companies affected by the pandemic.
The Commission found that the measures envisaged by Latvia were in line with the conditions set out in the Temporary Framework.
Latvia's planned support will be made available quickly, on favourable terms and reserved for those who need it in this unprecedented situation. In order to achieve this objective, the Latvian measures also provide for a minimum remuneration and safeguards to ensure that the aid is effectively channelled to the beneficiaries who need it. (Original version in French by Lionel Changeur)