On Friday 17 November, the European Commission announced that it had approved an Austrian aid scheme worth around €3 billion, notified under the Temporary Framework for State Aid during crisis and transition periods(see EUROPE B13138A1). This aid scheme is designed to support businesses of all sizes and in all sectors, except for credit and financial institutions, which are faced with rising energy costs.
Aid will reach beneficiaries in the form of direct grants.
The aid scheme has two...