On Thursday 2 and Friday 3 April, the European Commission authorised a series of aid measures to support the economy in the context of the coronavirus crisis. They have been approved 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 2020.
The Commission had already authorised two guarantee schemes for Spain on 24 March. This time, Spain notified a new framework scheme to support businesses affected by the coronavirus outbreak.
The scheme authorised today consists of a national temporary framework for State aid, on the basis of which the Spanish authorities (national, regional and local) will be able to grant aid to support businesses affected by the coronavirus crisis. Spanish authorities will be permitted to provide liquidity support to the self-employed, small and medium-sized enterprises (SMEs), and large firms in the form of direct grants, repayable advances, tax and payment advantages, loan guarantees and subsidised interest rates for loans. Support per company cannot exceed EUR 800,000, as provided for in the temporary framework.
Sweden. The Commission has approved a Swedish guarantee scheme of EUR 9.1 billion for new loans granted by commercial banks to support businesses, mainly small and medium-sized enterprises (SMEs). The scheme aims to limit the risk associated with the granting of loans to the companies most seriously affected by the economic impact of the current crisis and thus to ensure their continued operation.
Denmark. The Commission has also given the go-ahead for a State loan facility of up to EUR 200 million envisaged by Denmark for the Travel Guarantee Fund (‘Rejsegarantifonden’). This loan provides funds for travel guarantees, which reimburse travellers in the event of trip cancellations. In particular, the measure covers package tours that were cancelled due to the exceptional circumstances caused by the coronavirus pandemic and by the travel bans subsequently imposed by the Danish government.
Malta. Malta notified to the Commission a guarantee scheme covering working capital loans granted by commercial banks to support businesses affected by the pandemic. The scheme has an estimated budget of EUR 350 million.
The Commission found that the measure taken by Malta was in line with the conditions laid down in the Temporary Framework. (Original version in French by Lionel Changeur)