On Tuesday 14 April, the European Commission approved a €200 billion Italian guarantee scheme to support the economy in the context of the coronavirus. The scheme was approved under the Temporary Framework for State aid measures.
Italy notified the Commission of a guarantee scheme for new working capital and investment loans granted by banks to support businesses affected by coronavirus. The aid will be granted by the State-owned SACE, through financial institutions, to the affected companies.
The Commission also validated an Italian aid scheme for companies affected by the coronavirus. Aid will be granted by the State-owned 'Guarantee Fund for SMEs' through financial institutions in the form of: - state guarantees on investment and working capital loans; - direct grants waiving the applicable fee on the guarantees awarded. The plan will be open to self-employed workers and businesses with up to 499 employees who are affected by the pandemic.
Germany. On 14 April, the Commission approved a German state guarantee scheme in the form of trade credit insurance, which protects companies that supply goods and services against the risk of non-payment by their customers. The German scheme ensures that trade credit insurance continues to be available to all companies, avoiding the need for buyers of goods or services to pay in advance, thus reducing their immediate liquidity needs.
France. On 12 April the Commission validated a French state guarantee scheme for credit insurance on the French internal market. The total budget for the measure is estimated at €10 billion. The credit insurance covers companies that supply goods and services against possible non-payment by their customers. The French scheme guarantees the maintenance of a credit insurance offer for all companies. It will prevent purchasers of goods or services from having to pay for their purchases in advance, thereby reducing their immediate liquidity needs.
Walloon and Swedish airports. Belgium has notified the Commission of its intention to adopt a measure allowing the deferral of the payment of concession fees due by Walloon airports to the Walloon authorities in order to support these operators during and after the pandemic. The aid scheme will be accessible to operators at Charleroi and Liège airports and will offer them the possibility of deferring payment of the concession fees payable in principle for the year 2020.
The aim of the scheme is to ensure that the two Walloon airports have sufficient liquidity to cope with the crisis and to preserve the continuity of economic activity.
On 11 April, the green light was given to a Swedish loan guarantee scheme worth €455 million to support airlines (state guarantees for loans).
The Commission also approved : - on 11 April, a Belgian loan guarantee scheme (€50 billion) to help businesses (SMEs and self-employed), a Romanian aid scheme of €3.3 billion to support SMEs, amendments to two German aid schemes to support businesses affected by the coronavirus pandemic (‘Bundesregelung Kleinbeihilfen 2020’ and ‘Bundesregelung Darlehen 2020’); - on 10 April, a €115 million Polish scheme to support businesses (direct grants to cover part of the interest due on loans, which should normally be borne by the borrower), a €3 billion Flemish guarantee scheme covering working capital and investment loans to support businesses in the Flemish Region and two Lithuanian aid schemes (€150 million) to provide liquidity in the form of subsidised loans to businesses. (Original version in French by Lionel Changeur)