On Friday 17 November, the European Commission announced that it had authorised two Slovakian State aid schemes with a total budget of €560 million to alleviate the cash shortages of businesses affected by the economic disruption caused by Russia’s military aggression against Ukraine.
The first scheme, with a total budget of €296 million, will provide liquidity support to businesses in the form of guarantees, guarantee fee subsidies and partial rebates of loan principals. The second scheme, with a total budget of €264 million, will offer businesses liquidity support in the form of guarantees and partial discounts on the principal of loans.
The aid will reach companies in all sectors, with the exception of financial institutions, via credit and other financial institutions. (Original version in French by Émilie Vanderhulst)