The European Commission adopted two national support schemes for businesses on Friday 15 May, in the context of the Covid-19 pandemic.
The schemes were approved under the Temporary Framework for state aid measures adopted by the Commission on 19 March 2020 and revised on 3 April and 8 May.
It also adopted the list of State aid measures approved so far in the context of the pandemic (https://bit.ly/2AxGN4L ).
Belgium. The Commission has approved a Belgian guarantee measure, with an indicative budget of €500 million, for companies with export activities affected by the effects of the coronavirus pandemic.
Following the approval by the Commission of a Belgian loan guarantee scheme on 11 April 2020, Belgium notified to the Commission under the Temporary Framework a €500 million guarantee scheme to support internationally active companies affected by the coronavirus outbreak. The support, in the form of State guarantees on loans, will be accessible to companies whose exports represent at least 30% of their annual turnover and will be implemented by the Credit-Export Agency “Credendo”, acting on behalf of the State. The support concerns State guarantees on loans with a maximum duration of one year.
Malta. The Commission approved a Maltese interest rate subsidy scheme worth €40 million, to support companies facing acute liquidity shortages due to the current coronavirus outbreak.
The scheme is designed to meet the liquidity needs of Maltese companies of all sizes. The support will take the form of an interest rate subsidy by covering the interest costs on the initial two years of a loan, which will result in lower interest rates for the borrower. This measure follows the €350 million guarantee scheme, which was approved on 2 April 2020. (Original version in French by Lionel Changeur)