The European Commission announced on Friday 29 July that it had authorised a €2.9 billion Italian scheme to help businesses meet their liquidity needs in the wake of Russia’s invasion of Ukraine.
The scheme was authorised under the Temporary Crisis Framework for State aid, adopted by the Commission on 23 March 2022 and amended on 20 July 2022.
The objective of the Italian scheme is to provide liquidity support to small and medium-sized enterprises and mid-cap companies in the...