On Wednesday 8 and Thursday 9 April, the European Commission authorised several schemes (State Aid) to support the economy and businesses in the context of the coronavirus pandemic.
They were authorised under the Temporary State Aid Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.
The Commission adopted a total of 43 decisions approving 53 national measures in relation to the coronavirus. Since its adoption on 19 March 2020, the Commission has taken 39 state aid decisions under the Temporary Framework (49 national measures).
Austria. Austria has giver notice on a nationwide liquidity support scheme with an estimated budget of €15 billion, allowing granting of aid in various forms (direct grants, repayable advances and guarantees up to €800,000, state guarantees on loans accompanied by safeguards for banks channelling State Aid to the real economy, subsidised public loans granted to companies with reduced interest rates).
Croatia. The Commission approved two Croatian schemes with an estimated overall budget of €1 billion to support businesses affected by the coronavirus pandemic. Under these two schemes, public support will take the form of zero-interest loans and subsidised loans, respectively.
Greece. The European Commission has authorised a €1.2 billion Greek aid scheme to support the Greek economy.
Following the approval on 3 April 2020 of a Greek guarantee measure amounting to €2 billion and on 7 April 2020 of a second aid scheme providing €1 billion of repayable advances to support businesses affected by the pandemic, Greece notified the Commission of a scheme to support small and medium-sized enterprises (SMEs) affected by the pandemic.
The support takes the form of grants (interest coverage of up to €800,000 per company, for a period of 3 months, with the possibility of extension for a further 2 months).
Luxembourg. Luxembourg has given notice of an aid scheme worth €30 million to support R&D on coronavirus and investment in the manufacture of products to combat this virus.
The scheme is open to small, medium and large enterprises in all sectors. The aid will be granted in the form of direct subsidies to ramp up and accelerate research and the manufacture of products (medicines, vaccines, respirators, etc.)
Lithuania. The Commission has validated a €110 million guarantee scheme covering working capital and investment credits granted by commercial banks to support businesses affected by the pandemic. The support proposed under the Lithuanian scheme will be available to SMEs and large, troubled companies. (Original version in French by Lionel Changeur)