On Monday 25 July the European Commission approved a €500 million package of Irish investment aid to encourage companies to accelerate or increase their investments in Ireland, particularly in the field of green and new digital technologies, in order to improve their competitiveness and productivity.
This support was approved under the Temporary Framework for State Aid.
The aid will take the form of direct grants and will be used to finance investments in tangible and intangible assets to bridge the investment gap in the economy following the Covid-19 pandemic. The measure will be open to companies active in sectors such as manufacturing, information and communication, scientific and technical activities. Up to 500 companies are expected to benefit from this measure.
In addition, on Tuesday 26 July, the Commission authorised a €225 million aid scheme for Luxembourg to support businesses in the context of the Russian invasion of Ukraine. This scheme was approved under the State aid Temporary Crisis Framework, adopted by the Commission on 23 March 2022. (Original version in French by Lionel Changeur)