On Thursday, 28 May, the European Commission approved three new temporary State Aid schemes submitted by Denmark, Finland, and the Netherlands in response to the economic crisis caused by the Covid-19 pandemic.
A €713 million Dutch scheme will provide liquidity support to SMEs whose activities are affected by the coronavirus. The aid will take the form of guarantees covering 95% of the bank loans taken out that have a value between €10,000 and €50,000. All sectors of activity are concerned except commercial real estate, the financial sector, publicly funded healthcare systems, agriculture, and fisheries. The measure could support up to 30,000 SMEs.
In Finland, maritime companies transporting essential equipment and supplies will be able to receive support under a new €600 million scheme that will run until the end of 2020. The Finnish state will provide a State guarantee that is valid for six years and that covers up to 90% of the value of the working capital loans made by the companies concerned.
Finally, a €32 million (DKK 240 million) Danish scheme to compensate companies active in the media sector (press, television) for the loss in advertising revenues was approved. The aid will take the form of direct grants covering up to 80% of the loss incurred between 9 March and 8 July 2020 and calculated by comparison with the monthly revenue received in 2019. In the event that too much aid is given, the surplus received is to be repaid. (Original version in French by Mathieu Bion)