The outbreak of a novel virus infection has a significant economic impact. Several Member States have announced support measures for citizens or companies. Some support measures may entail State aid within the meaning of Article 107 TFEU.

Austria

The European Commission has found a €8 billion Austrian scheme to compensate companies for damages related to the coronavirus outbreak to be in line with EU State aid rules. Under the scheme, undertakings will be entitled to compensation for certain damages suffered as a result of the coronavirus outbreak. As notified by Austria, the compensation, in the form of direct grants, can cover a maximum of 75% of fixed costs incurred during a limited period of three months, with a maximum amount of €90 million per group. The Commission assessed the measure under Article 107(2)(b) of the Treaty on the Functioning of the European Union (TFEU), which enables the Commission to approve State aid measures granted by Member States to compensate specific companies or sectors for damage directly caused by exceptional occurrences.

The European Commission has approved several regional aid schemes by the Austrian States (Länder) of Carinthia, Styria, Tyrol, Upper Austria and Vienna to (i) support companies in the context of the coronavirus outbreak and/or (ii) support investment in research and development (R&D), testing and production of products that are relevant to the coronavirus outbreak, including vaccines, ventilators and personal protective equipment. The measures were approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April and 8 May 2020. Under the schemes notified by Austria, the support will take the form of direct grants, equity contributions and advance payments. The purpose of the schemes is to help companies tackle the liquidity shortages they face as a result of the outbreak. Furthermore, some of the measures aim at enhancing and accelerating both the development and the production of products directly relevant to the coronavirus outbreak. 

The European Commission approved on 17 April Austrian guarantee schemes to support Austrian small and medium-sized enterprises (SMEs) in the context of the coronavirus outbreak. The schemes will provide guarantees on working capital loans that will enable those SMEs to cover their short-term liabilities, despite the current loss of revenues caused by the pandemic. The schemes complement the €15 billion Austrian liquidity scheme that the Commission approved on 8 April 2020. The schemes will provide 100% guarantees for underlying loans up to an amount of €500,000 (except for the agricultural and the fisheries and aquaculture sectors, where the 100% guarantees are limited to underlying loans up to an amount of €100,000 and €120,000, respectively). For loans above those thresholds, the schemes will provide 90% guarantees for underlying loans up of €25 million. The schemes were approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.

The Commission approved, on 9 April, under the Temporary Framework, an Austrian liquidity scheme to support the economy in the context of the coronavirus outbreak. The scheme is Austria-wide, targeted at all companies, and allows for the provision of aid in the form of: (i) Direct grants, repayable advances and guarantees with a maximum of €800 000; (ii) State guarantees for loans subject to safeguards for banks to channel State aid to the real economy; (iii) Subsidised public loans to companies, with favourable interest rates. The measure allows aid to be granted by COFAG (COVID-19 Finanzierungsagentur des Bundes GmbH), which is a special purpose vehicle to grant liquidity assistance measures. Aid is granted under the measure either directly or, if it concerns guarantees on loans or subsidised public loans, through credit institutions and other financial institutions as financial intermediaries.

Belgium

The Commission approved, on 18 May 2020, under EU State aid rules, a €903 million Belgian reinsurance scheme to support the trade credit insurance market in the context of the coronavirus outbreak. Trade credit insurance protects companies supplying goods and services against the risk of non-payment by their clients. Given the economic impact of the coronavirus outbreak, the risk of insurers not being willing to maintain their insurance coverage has become higher. The Belgian reinsurance scheme, with a total budget of €903 million, ensures that trade credit insurance continues to be available to all companies, avoiding the need for buyers of goods or services to pay in advance, therefore reducing their immediate liquidity needs.

The Commission approved, on 14 May 2020, under the Temporary Framework,  a Belgian guarantee measure, with an indicative budget of €500 million, for companies with export activities affected by the coronavirus outbreak. The support, in the form of State guarantees on loans, will be accessible to companies whose exports represent at least 30% of their annual turnover and will be implemented by the Credit-Export Agency “Credendo”, acting on behalf of the State. The support concerns State guarantees on loans with a maximum maturity of one year and offers to companies with international activities the possibility to substitute guarantees on loans eligible under the previously approved Belgian guarantee scheme with the Credendo guarantee. The measure will be open to small and medium-sized enterprises (SMEs) and large companies that face economic difficulties and liquidity shortages due to the coronavirus outbreak. The measure will support lending to eligible companies, but will not take the form of export aid contingent on export activities as it is not tied to concrete export contracts. On the contrary, it finances the general activity of the beneficiaries by facilitating their access to liquidity in the form of working capital loans and investment loans. The scheme aims at limiting the risk associated with issuing loans to internationally active companies affected by the economic impact of the coronavirus outbreak, thus ensuring the continuation of their activities. 

The Commission approved, on 12 May 2020, under the Temporary Framework, a €25 million Belgian aid scheme to support coronavirus related research and development (R&D) in Wallonia. The public support will take the form of direct grants and repayable advances, and is open to all companies active in Wallonia that are capable of carrying out R&D projects relevant to the coronavirus outbreak. The aim of the scheme is to find solutions to respond to the current health crisis, among others via diagnostic solutions and the development and validation of treatments and vaccines.

The Commission approved, on 5 May 2020, under the Temporary Framework, a Belgian scheme of €250 million, financed by the Flemish region, to support companies in the context of the coronavirus outbreak. This is a subordinated loan scheme to support companies, in particular start-ups, scale-ups and small/medium-sized enterprises, active in the Flemish region and affected by the coronavirus outbreak. The measure, with a budget of €250 million, aims at supporting the financing needs of these businesses at a crucial point of their economic development.

The Commission approved, on 30 April 2020, under the Temporary Framework, a Belgian scheme, financed by the Walloon region, to support companies in the context of the coronavirus outbreak through guarantees. This is a loan guarantee scheme to support companies active in the Walloon region and affected by the coronavirus outbreak. The measure, with an overall volume of guarantees to be issued of €530 million, aims at limiting the risk associated with issuing or restructuring loans to those companies that are most severely affected by the economic impact of the coronavirus outbreak, ensuring the continuation of activities.

The European Commission has approved, on 27 April 2020, a €4 million Belgian direct grant scheme for the Brussels-Capital region to support coronavirus related research and development (R&D) projects in the Brussels-Capital region. The public support will take the form of direct grants. The scheme will be accessible to small, medium-sized and large enterprises from all sectors, capable to carry out such activities, which have at least one place of business in the Brussels-Capital region. The aim of the scheme is to support the development of innovative solutions to the coronavirus pandemic, such as vaccines, drugs and treatments, medical devices, hospital and medical products and equipment, including ventilators, protective clothing, diagnostic tools and disinfectants. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.

Brussels capital

The Commission approved, on 24 April 2020, under the Temporary Framework, a Belgian regional scheme to support agricultural and aquaculture sectors in the Brussels-Capital region in the context of the coronavirus outbreak. The Brussels-Capital region support measure will be accessible to companies of all sizes active in this sector in the Brussels-Capital region. The public support, which will take the form of direct grants, aims at ensuring that those companies which are experiencing cash difficulties due to the coronavirus outbreak have liquidity for their activities during and after the outbreak.

The Commission approved, on 11 April 2020, under EU State aid rules, a Belgian loan guarantee scheme to support the Belgian economy in the context of the coronavirus outbreak. The Belgian support measure, in the form of State guarantees on new short-term loans, will be accessible to all companies, including small and medium-sized enterprises (SMEs) and self-employed traders. The aim of the scheme is to help businesses affected by the economic impact of the current crisis cover their liquidity needs, thus ensuring the continuation of their activities. The Commission assessed the measure under EU State aid rules, and in particular Article 107(3)(b) of the Treaty on the Functioning of the European Union (TFEU), which enables the Commission to approve State aid measures implemented by Member States to remedy a serious disturbance to their economy.

The Commission approved, on 11 April 2020, under the Temporary Framework, a Belgian scheme deferring the payment by Walloon airports of concession fees to mitigate the economic impact of the coronavirus outbreak. Belgium notified the Commission of its intention to set up a deferral payment measure of the concession fees owed by the Walloon airports to the Walloon authorities to support those airport operators during and after the coronavirus outbreak. The scheme will be accessible to the operators of the Charleroi and Liege airports, and will offer them the possibility to defer the payment of the concession fees that would in principle be due for the year 2020. The scheme aims at ensuring that the two Walloon airports have sufficient liquidity to counter the damage caused by the coronavirus outbreak and to preserve the continuity of economic activity during and after the current crisis.

The Commission approved, on 10 April, under the Temporary Framework, a Belgian scheme, financed by the Flemish region, to support companies in the context of the coronavirus outbreak. The support measure is a guarantee scheme for working capital and investment loans, to support companies active in the Flemish region and affected by the coronavirus outbreak. The measure aims at limiting the risk associated with issuing or restructuring loans to those companies that are most severely affected by the economic impact of the coronavirus outbreak, ensuring the continuation of activities.

Bulgaria

The Commission approved, on 13 May 2020, under the Temporary Framework, a €88 million (approximately BGN 173 million) scheme to support the Bulgarian micro and small companies in the context of the coronavirus outbreak. The support measures available under the scheme will be to a large part co-financed by the European Regional Development Fund (€75 million). The support will take the form of grants. The purpose of the scheme is to address the liquidity needs of micro and small companies, including self-employed, and to help them to continue their activities during and after the outbreak. The scheme will be accessible to companies active in different sectors except agriculture, fisheries, aquaculture and forestry. It is estimated that approximately 17,300 micro and small enterprises will benefit from this support.

The Commission approved, on 23 April 2020, under the Temporary Framework, a Bulgarian scheme to support small and medium-sized enterprises (SMEs) in the context of the coronavirus outbreak. Under the Bulgarian scheme, the public support will take the form of equity and quasi-equity investments. The scheme, which will be open to SMEs active in all sectors with certain exceptions defined by Bulgaria, aims at enhancing access to liquidity by those companies that are most severely affected by the economic impact of the coronavirus outbreak, thus helping them to continue their activities, start investments and maintain employment.

The Commission approved, on 8 April 2020, under the Temporary Framework, a Bulgarian public guarantee scheme to support small and medium-sized enterprises (SMEs) in the context of the coronavirus outbreak. The Bulgarian support measure is a guarantee scheme on existing or new loans to support companies affected by the coronavirus outbreak (so-called “Intermediated SME Loan Guarantee Program”). Following a BGN 500 million (€255 million) State-funded capital increase of the Bulgarian Development Bank AD, the latter will provide public guarantees on investment loans and working capital loans to micro, small and medium-sized companies affected by the coronavirus outbreak in Bulgaria. The scheme aims at limiting the risk associated with issuing loans to those companies that are most severely affected by the economic impact of the current crisis. It will help businesses cover their immediate working capital or investment needs and ensure that they have sufficient liquidity to continue their activities.

The European Commission has approved a BGN 1.5 billion (approximately €770 million) Bulgarian wage subsidies support scheme for preserving employment in the sectors most affected by the confinement measures put in place due to the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. The wage subsidy aid scheme will allow the Bulgarian authorities to finance 60% of the wage costs (including the employers' social security contributions) of undertakings that, due to the coronavirus outbreak, would otherwise lay off personnel. The measure is restricted to undertakings active in the sectors most affected by the current public health crisis, such as retail, tourism, passenger transport, culture, sports activities, amusement and recreation activities and others.

Czechia

The European Commission approved a CZK 5 billion (approximately €184 million) Czech scheme to support retail businesses and service companies renting premises, which were limited or forbidden to carry out their activities due to the measures imposed by the government in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020 and 8 May 2020. The public support, which will take the form of direct grants, will cover 50% of the original rent due for the months of April, May and June 2020, on the condition that the owner of the premises agrees on a 30% reduction of the original rent. This aims at incentivising the private sector to mitigate the sudden liquidity shortages that the affected companies are facing due to the measures taken by the Czech government to limit the spread of the coronavirus. The Commission found that the Czech scheme is necessary, appropriate and proportionate to fight the health crisis, in line with Article 107(3)(b) TFEU, and the conditions set out in the Temporary Framework.

The Commission approved, on 15 May 2020, under the Temporary Framework, an approximately €18.5 billion (CZK 500 billion) Czech scheme for guarantees on loans to support lending to companies with up to 500 employees that are affected by the coronavirus outbreak. Under the scheme, the support will take the form of State guarantees on loans. The scheme will be managed by the Czech promotional bank, Českomoravská záruční a rozvojová banka, a.s. (CMZRB). The measure aims at limiting the risks associated with issuing loans to companies with up to 500 employees that are most severely affected by the economic impact of the coronavirus outbreak, enhancing access to external financing, thus ensuring the continuation of their activities.

The Commission approved, on 7 May 2020, under the Temporary Framework, a CZK 200 million (approximately €7.3 million) Czech aid scheme to support research and development (R&D) activities related to the coronavirus outbreak. Following the approval, on 15 April 2020, of a Czech scheme to support investment in the production of coronavirus relevant products, this scheme, the form of direct grants, will support coronavirus related R&D activities. It will be accessible to all companies in Czechia that are capable of carrying out relevant R&D projects in all sectors. The aim of the scheme is to support the development of innovative solutions to the coronavirus pandemic, such as medical and paramedical technologies and solutions including 3D printing systems and applications to facilitate logistics.

The Commission approved, on 5 May 2020, under the Temporary Framework, a Czech guarantee scheme for large companies with export activities affected by the coronavirus outbreak. Czechia notified to the Commission under the Temporary Framework guarantee scheme to support lending to large exporting companies affected by the coronavirus outbreak. The support, in the form of an approximately €5.2 billion (CZK 142 billion) scheme for State guarantees on loans, will be accessible to large companies whose exports represent at least 20% of their yearly sales revenue. The scheme aims at limiting the risk associated with issuing loans to those exporting companies that are most severely affected by the economic impact of the coronavirus outbreak, thus ensuring the continuation of their activities. The scheme will be managed by the Czech export credit agency EGAP. The guarantees will support lending to those companies, but will not take the form of export aid contingent on export activities as it is not tied to concrete export contracts. On the contrary, it finances the general activity of the beneficiaries by facilitating their access to liquidity in the form of working capital loans and investment loans.

The European Commission has approved a Czech aid scheme of up to CZK 1 billion (approximately €37 million) to support investments by small and medium-sized enterprises (SMEs) in the production of products that are relevant to the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. The scheme will have an initial budget of CZK 300 million (approximately €11 million). The budget may be subsequently increased to up to CZK 1 billion (approximately €37 million). Under the scheme, public support will take the form of direct grants, and will cover 50% of the eligible costs companies have to bear to create production capacities to manufacture coronavirus-relevant products. The aim of the scheme is to enhance and accelerate production of products directly relevant to coronavirus. These include medicinal products such as vaccines, hospital and medical equipment including ventilators, protective clothing and equipment as well as diagnostic tools. The acquisition of infectious waste disposal facilities will also be supported.

Croatia

The Commission approved, on 12 May 2020, under the Temporary Framework, an approximately €322 million (HRK 2.450 million) Croatian scheme for loan guarantees and subsidised loans to micro companies and small and medium-sized enterprises (SMEs) affected by the coronavirus outbreak. Under the scheme, the support will take the form of subsidised loans and State guarantees on loans. The scheme will be managed by HAMAG-BICRO - the Croatian Agency for SMEs, Innovations and Investments. The scheme aims at enhancing the access to external financing of those micro companies and SMEs that are most severely affected by the economic impact of the coronavirus outbreak, thus ensuring the continuation of their activities.

The European Commission has approved an HRK 30 million (approximately €4 million) Croatian scheme to support the fishery and aquaculture sector in Croatia in the context of the coronavirus outbreak. The public support, which will take the form of direct grants, aims at ensuring that companies active in the sector, which are experiencing cash difficulties due to the coronavirus outbreak, have liquidity to maintain their activities during and after the outbreak. The scheme, which will apply to the whole territory of Croatia (mainland and islands), will be open to companies of all sizes active in the fishery and aquaculture sector, including  those active in marine commercial fishing (capture fisheries), shellfish farming, warm-water (cyprinid) and cold-water (salmonid) fish farming, processing of fisheries and aquaculture products and fisheries cooperatives. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.

The Commission approved, on 9 April 2020, under the Temporary Framework, two Croatian schemes to support the Croatian economy in the context of the coronavirus outbreak. The support takes the form of two schemes to support companies affected by the coronavirus outbreak. Under the two schemes, the public support will take the form of zero-interest loans and loans with subsidised interest rates, respectively. The schemes aim at enhancing access to liquidity by those companies which are most severely affected by the economic impact of the coronavirus outbreak, thus ensuring the continuation of their activities.

The Commission approved, on 6 April 2020, under the Temporary Framework, a Croatian liquidity guarantee scheme for companies affected by the coronavirus outbreak.

The support measure is in the form of State guarantees on loans, and will be accessible to all companies whose exports represent at least 20% of their yearly revenue. The guarantees will support lending to those companies, but will not take the form of export aid contingent on export activities. The scheme aims at limiting the risk associated with issuing operating loans to those companies that are most severely affected by the economic impact of the coronavirus outbreak, thus ensuring the continuation of their activities.

Denmark

The Commission approved, on 2 June 2020, under EU State aid rules, an approximately €97 million (DKK 725 million) Danish scheme to compensate travel operators for damages caused by the cancellation of package travels due to the exceptional circumstances caused by the coronavirus outbreak and the subsequent travel restrictions imposed by the Danish Government. Under the scheme, travel operators will be entitled to compensation for the losses suffered as a consequence of reimbursing consumers in the event of cancellation. The compensation, in the form of direct grants covering up to 100% of documented losses related to the coronavirus outbreak, will be granted by the Danish Travel Guarantee Fund and will cover the period from 26 January 2020 until 31 May 2020, corresponding to the timeframe in which the Danish government has put in place travel restrictions. The Commission found that the Danish measure is in line with Article 107(2)(b) of the Treaty on the Functioning of the European Union (TFEU), which enables the Commission to approve State aid measures granted by Member States to compensate specific companies or specific sectors for the damages directly caused by exceptional occurrences, such as the coronavirus outbreak. 

The Commission approved, under EU State aid rules, a DKK 240 million (approximately €32 million) Danish scheme to partially compensate media companies for the loss in advertising revenues suffered due to the coronavirus outbreak. The scheme will be open to all Danish media companies irrespective of the type of media outlet (printed media or broadcasters).  Under the scheme, as notified by Denmark, media companies will be entitled to compensation for the damage suffered, in the form of direct grants covering up to 80% of the loss in advertising revenue incurred from 9 March until 8 July 2020..The loss in advertising revenues will be calculated based on a comparison between each company's advertising revenue and their average monthly advertising revenue in 2019. Furthermore, the scheme includes a claw-back mechanism, which ensures that public support received by the aid beneficiaries in excess of the demonstrated damage will have to be paid back to the Danish state. The risk of the State aid exceeding the damage is therefore excluded. The Commission assessed the measure under Article 107(2)(b) of the Treaty on the Functioning of the European Union (TFEU), which enables the Commission to approve State aid measures granted by Member States to compensate specific companies or specific sectors (in the form of schemes) for the damages directly caused by exceptional occurrences, such as the coronavirus outbreak

The European Commission has found to the prolongation and modification a previously approved scheme to compensate companies for damages caused by the cancellation of public events due to the coronavirus outbreak to be in line with EU State aid rules. The existing scheme was approved on 12 March 2020 and enables Denmark to compensate operators for the losses suffered as a consequence of the cancellations or postponement the events. Denmark notified the following modifications to this scheme: (i) as a direct consequence of further temporary prohibitions of public events decided by the Danish Government in the public health interest, the duration of the measure is extended to cover events that should have taken place between 6 March and 31 August 2020 (previously, only events scheduled until 30 March 2020 could be compensated); (ii) the scheme will now be accessible to organizers of events with more than 350 participants (previously, beneficiaries were organisers of events with more than 1,000 participants); and (iii) the budget of the measure has increased from DKK 91 million (€12 million) to DKK 2,310 million (€310 million).

The Commission approved, on 15 May 2020, under EU State aid rules, a Danish guarantee scheme to support the trade credit insurance market in face of the coronavirus outbreak. Trade credit insurance protects companies supplying goods and services against the risk of non-payment by their clients. Given the economic impact of the coronavirus outbreak, the risk of insurers not being willing to issue this insurance has become higher. The Danish scheme ensures that trade credit insurance continues to be available to all companies, avoiding the need for buyers of goods or services to pay in advance, therefore reducing their immediate liquidity needs. The Commission assessed the measure under EU State aid rules, and in particular Article 107(3)(b) of the Treaty on the Functioning of the European Union (TFEU), which enables the Commission to approve State aid measures implemented by Member States to remedy a serious disturbance in their economy

The Commission approved, on 5 May 2020, under the Temporary Framework, two Danish loan schemes to support start-up companies in the context of the coronavirus outbreak. The loan schemes, with a total budget of approximately €296 million (DKK 2.2 billion) will support start-ups with subsidised interest rates, and will be managed by the Danish State public investment fund Vækstfonden. The first scheme targets companies in their early stages, while the second scheme focuses on companies having already received venture capital. The schemes aim at creating incentives for private investment in start-ups and at overcoming the financial gap created by the current uncertainty in the market, ensuring that these companies continue developing during and after the coronavirus outbreak.

The Commission approved, on 30 April 2020, under the Temporary Framework, four Danish schemes granting tax deferrals and comparable measures to ease liquidity constraints of Danish small and medium-sized enterprises (SMEs) facing difficulties due to the coronavirus outbreak. The public support, with a total budget of €130 million (DKK 970 million), will support companies affected by the coronavirus outbreak. This will take the form of tax deferrals and similar measures in relation to VAT and payroll tax liabilities. The Danish Parliament adopted today an “Act on interest-free loans corresponding to declared VAT, payroll tax and advance payment of tax credits due to COVID19”. Certain VAT and payroll tax instalments, which were due to be paid or were paid already in the context of the coronavirus outbreak, but could not be deferred in view of the date of adoption of the Act, will be reimbursed in the form of interest-free credit facilities. The scheme will be accessible to Danish SMEs active in most sectors. The measures are intended to ease the liquidity constraints faced by those companies, thus helping them to continue their activities.

The European Commission has found a Danish State guarantee of up to approximately €137 million on a revolving credit facility in favour of Scandinavian airline SAS to be in line with EU State aid rules. The measure aims at partly compensating the airline for the damage suffered due to the coronavirus outbreak. SAS is a major network airline operating in Denmark, Sweden and Norway. It has its main hub at Copenhagen airport and, under normal circumstances, provides two-thirds of intra-Scandinavian air connectivity. Since the start of the coronavirus outbreak, SAS has suffered a significant reduction of its services, resulting in high operating losses.

The Commission approved, on 6 April 2020, under Article 107(2)(b), a Danish scheme that compensates companies particularly affected by the coronavirus outbreak, up to a maximum of DKK 60 million (approximately €8 million) per company. Under the scheme, private companies registered in the Danish Central Business Register (CVR), which have a proven decline in revenues of more than 40 % because of the coronavirus outbreak in the period from 9 March to 9 June 2020, will be entitled to compensation for the damages suffered. In particular, they will be compensated in part or in full for the fixed costs that they continue to bear. The Danish authorities foresee several levels of compensation according to the level of the turnover decline. The Commission assessed the measure under Article 107(2)(b) of the Treaty on the Functioning of the European Union (TFEU), which enables the Commission to approve State aid measures granted by Member States to compensate specific companies or specific sectors (in the form of schemes) for the damages directly caused by exceptional occurrences.

The European Commission approved, on 3 April 2020, under the Temporary Framework, a Danish State loan facility in support of the Travel Guarantee Fund (“Rejsegarantifonden”). The loan aims to support the Travel Guarantee Fund, which provides reimbursement to travellers in case of travel cancellations. In particular, the measure covers travel packages that were cancelled due to the exceptional circumstances caused by the coronavirus outbreak and the subsequent travel restrictions imposed by the Danish Government. It aims to ensure liquidity for travel organisers and the quickest possible refunds or reimbursements to travellers.

The European Commission approved, on 25 March 2020, under EU State aid rules (107(2)b TFEU) a DKK 10 billion (approximately €1.3 billion) Danish scheme that partially compensates the self-employed for the losses of turnover suffered due to the coronavirus outbreak.

The Commission approved, on 21 March 2020, under Article 107(3)(b), a Danish aid scheme SA.56709, which aims at limiting the risks associated with issuing operating loans to those companies that are most severely affected by the economic impact of the Coronavirus outbreak.

The Commission approved, on 12 March 2020, under Article 107(2)(b), a Danish aid scheme SA.56685 to compensate organisers for the damage suffered due to the cancellation of large events with more than 1,000 participants or targeted at designated risk groups.

Estonia

The Commission approved, on 29 May 2020, under the Temporary Framework, a €4 million Estonian scheme to support businesses renting premises in shopping centres, in the context of the coronavirus outbreak. The public support, which will take the form of direct grants, is intended to cover part of the rent due by businesses located in shopping centres. The amount of public support to which businesses will be entitled under the scheme will match, up to a maximum amount of 25% of the rent, the discounts that each lessor may decide to apply on the rents in view of the current crisis situation. This aims at incentivising the private sector to contribute towards the objective of mitigating the impact of the coronavirus outbreak. The purpose of the scheme is to mitigate the sudden liquidity shortages that non-essential businesses in shopping centres are facing due to the closure imposed by the Estonian State between 27 March and 11 May to limit the spread of the coronavirus.

Following the approval by the European Commission of two Estonian aid schemes on 30 March 2020, the Commission has approved two additional Estonian State aid schemes to support companies affected by the coronavirus outbreak. The schemes were approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. The new schemes complement the previously approved schemes with measures which were introduced and made possible by the amendment to the Temporary Framework approved by the Commission on 3 April 2020. The two schemes, which will share and be financed with the €1.75 billion budget estimated for the previously approved schemes, will consist in: A first support scheme, which will be implemented and administered by the public Foundation KredEx. Under this scheme support will be granted in the form of public guarantees, loans and subsidised interest rates for loans. A second support scheme, which will be implemented and administered by the public Estonian Rural Development Foundation. It will focus on providing liquidity through public guarantees and loans to companies active in the agriculture, fishery and food processing sectors, as well as to companies in rural areas.

The Commission approved, on 21 April 2020, under the Temporary Framework, eight Estonian State aid schemes in the form of direct grants and payment advantages to provide liquidity to companies affected by the coronavirus outbreak. The Estonian support measures Estonia notified to the Commission under the Temporary Framework eight support schemes, with a total estimated budget of €75.5 million, to support companies affected by the coronavirus outbreak. Under the schemes, public support will be provided as follows: direct grants for: (i) small companies that seek to transform their products, services, processes and business model in order to support their viability; (ii) companies that invest in development projects to support their viability; companies in the tourism sector (iii) that seek to restructure their activities, to develop new products and/or services, or to change their business model as a result of the outbreak; and (iv) to mitigate coronavirus related damage; (v) direct grants to companies and organisations active in the culture and sports sectors affected by the coronavirus; and three measures related to the City of Tallinn: (vi) payment advantages to companies supplying products or services; (vii) a waiver of penalties to companies that failed to fulfil orders in due time; and (viii) reduced rent leases and usage fees to lessees of municipal property.

The Commission approved, on 31 March 2020, under the State aid Temporary Framework , two Estonian State aid schemes to support the economy in the context of the coronavirus outbreak. The first scheme will be implemented and administered by the public Foundation KredEx, and the second one, implemented by the public Estonian Rural Development Foundation. Under both schemes, with a total estimated budget of €1.75 billion, the support will consist either in the provision of public guarantees on existing or new loans, or in the granting of loans at favorable terms. The aim of the schemes is to help businesses cover immediate working capital or investment needs that have been impaired by the effects of the coronavirus outbreak.

Finland

The Commission approved, on 29 May 2020, under EU State aid rules, a €120 million Finnish scheme that compensates companies operating restaurants, bars or cafes for the loss of revenue caused by the coronavirus outbreak and the national measures taken to limit the spread of the virus. Under the scheme, these companies will be entitled to compensation for the damages suffered in the form of direct grants covering 15% of their loss of revenue up to €1 million, and 5% for the part of their losses above €1 million, during the two-month period of lockdown in Finland. Aid may be granted up to a maximum amount of €500 000 per beneficiary. To ensure that no beneficiary is overcompensated, a control mechanism guarantees that the Finnish authorities recover any compensation exceeding the net losses of each beneficiary. The Commission assessed the measure under Article 107(2)(b)of the Treaty on the Functioning of the European Union, which enables the Commission to approve State aid measures granted by Member States to compensate specific companies or specific sectors for the damages directly caused by exceptional occurrences.

The Commission approved, on 28 May 2020, under the Temporary Framework, a €600 million Finnish aid scheme to support the maritime companies in the context of the coronavirus outbreak. Under the scheme, the public support will take the form of State guarantees on working capital loans. The measure will be directly operated by the Finnish State Treasury. The scheme will be accessible to those maritime operators that are essential for maintaining the security of supply to Finland during the coronavirus outbreak. The aim of the measure is to help these companies cover their immediate working capital needs, maintain employment and have sufficient liquidity to continue their activities, which are vital to safeguard maritime cargo traffic and ensure essential supplies to Finland

The Commission approved, on 19 May 2020, under the Temporary Framework, a Finnish aid measure consisting of a State guarantee on a €600 million loan to Finnair to mitigate the economic impact of the coronavirus outbreak on the company. Finnair is a major network airline operating in Finland. Since the start of the coronavirus outbreak, as a result of the imposition of travel restrictions introduced by Finland and by many destination countries to limit the spread of the coronavirus, the company has suffered a significant reduction of its services resulting in a serious liquidity shortage. The support measure notified by Finland will take the form of a State guarantee covering 90% of a €600 million loan granted to Finnair by a pension fund. Finnair requires the State-backed guarantee to obtain vital liquidity to face this difficult period, before an expected recovery in sales once the restrictions are lifted progressively. Finland has also demonstrated that all other potential means to obtain liquidity on the markets have already been explored and exhausted.

The Commission approved, on 6 May 2020, under the Temporary Framework, two Finnish schemes, with a total budget of €40 million, to support the primary agricultural production and fishery and aquaculture sectors in the context of the coronavirus outbreak. The support takes the form of direct grants and the schemes have an estimated total budget of €40 million (€30 million for agriculture and €10 million for fishery and aquaculture). The aim of the schemes is to help these businesses cope with the liquidity problems brought about by the coronavirus outbreak by covering part of their salary, rent and other vital operating expenses necessary to continue their activities.

The Commission approved, on 24 April 2020, under the Temporary Framework, a Finnish scheme to support the Finnish economy in the context of the coronavirus outbreak. The Finnish public support will take the form of direct grants, equity injections, selective tax advantages and advance payments, as well as repayable advances, State guarantees and loans. The scheme aims at enhancing access to liquidity by those companies, which are most severely affected by the economic impact of the coronavirus outbreak, thus allowing them to continue their activities, start investments and maintain employment. The scheme will be open to all companies, with the exception of companies active in the primary agricultural, fishery and aquaculture sectors, and will apply to the whole territory of Finland.

The Commission approved, on 21 April 2020, under the Temporary Framework, a Finnish aid scheme to support the Finnish economy in the context of the coronavirus outbreak. The scheme will support companies affected by the coronavirus outbreak, and will be managed and implemented by the State-owned Specialised Financing Company, Finnvera Plc. Under the scheme, the public support will take the form of State guarantees on new investment and working capital loans; or Subsidised investment and working capital loans with favourable interest rates. The scheme aims at providing liquidity to companies affected by the coronavirus outbreak, thus enabling them to continue their activities, start investments and maintain employment.

France

On 25 May 2020 the European Commission approved an aid measure in the form of an individual guarantee from the French State for a loan of EUR 71 million in favour of the NOVARES group in order to mitigate the impact on the company of the coronavirus outbreak. The Commission examined the measure under the State Aid Temporary Framework. The NOVARES group provides plastic components for motors and motor vehicles. It is located in 23 countries all over the world. As a result of the containment measures adopted by its host countries in order to contain the spread of the coronavirus, NOVARES had to close down its plants one after another and now only five sites are in partial operation out of a total of 45. This almost total discontinuation of production led to a drastic drop in turnover and a significant need for liquidity. The measure notified by France will take the form of a State guarantee covering 90 % of a loan of EUR 71 million, to be granted to NOVARES by a pool of commercial banks. The loan will provide NOVARES with the necessary liquidity to survive this difficult period until the expected resumption of sales with the progressive lifting of restrictions. The loan is complementary to other market financing for equivalent amounts that are intended to support the continued operation of the business.

The Commission approved, on 11 May 2020, under EU State aid rules, a French guarantee scheme for small and midsize companies with export activities that are affected by the coronavirus outbreak. The support, in the form of State guarantees, will be accessible to all French exporting companies with an annual turnover below €1.5 billion. The measure is expected to mobilise €200 million. The scheme aims at limiting the risk associated with issuing financing guarantees to those exporting companies that are most severely affected by the economic impact of the coronavirus outbreak, thus ensuring the continuation of their activities. The Commission assessed the measure under EU State aid rules, and in particular Article 107(3)(b) of the Treaty on the Functioning of the European Union (TFEU), which enables the Commission to approve State aid measures implemented by Member States to remedy a serious disturbance in their economy.

The Commission approved, on 4 May 2020, under EU State aid rules, a €7 billion French aid measure consisting of a State guarantee on loans and a shareholder loan to Air France to provide urgent liquidity to the company in the context of the coronavirus outbreak. The measures were approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020, and directly based on Article 107(3)(b) of the Treaty on the Functioning of the European Union (TFEU), respectively. Air France Air France is a major network airline operating in France. Since the start of the coronavirus outbreak, Air France has also played an essential role in the repatriation of citizens and for the transport of medical equipment. The measure, which has a total budget of €7 billion, will take the form of: (i) a State guarantee on loans, and (ii) a subordinated shareholder loan to the company by the French State. Air France requires the state-backed guarantee and the shareholder loan to obtain vital liquidity to face this difficult period, before an expected recovery in sales once the restrictions are lifted progressively. France has also demonstrated that all other potential means to obtain liquidity on the markets have already been explored and exhausted. The Commission found that the French measure is in line with the principles set out the in the EU Treaty as it is well targeted to remedy a serious disturbance to the French economy. The Commission found that, in the absence of the public support, Air France would likely face the risk of bankruptcy due to the sudden erosion of its business. This would likely cause severe harm to the French economy.

The European Commission has approved a French aid measure consisting of a €5 billion loan guarantee to the Renault group to mitigate the economic impact of the coronavirus outbreak. The measure was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. France submitted an individual notification because the guarantee provides greater loan coverage (90%) than under the French general guarantee scheme approved by the Commission on 21 March 2020 (70% loan coverage). The Commission's assessment concluded that the measure in favour of Renault is nonetheless in line with the conditions under the Temporary Framework. Renault has been obliged to close almost all of its production lines and cease most sales activity due to the emergency measures put in place by France to limit the spread of the coronavirus. Despite significant proposed cost saving measures and 90% of its staff being placed in part-time unemployment, the current crisis will still lead to significant deterioration in the group's working capital and cash flow. Renault requires the state-backed guarantee to ensure access to vital liquidity from financial institutions to face this difficult period, before an expected recovery in sales once the restrictions are fully lifted.

The Commission approved, on 24 April 2020, under the Temporary Framework, a French guarantee scheme for small and midsize companies with export activities that are affected by coronavirus outbreak. The support, in the form of State guarantees on loans, will be accessible to all French exporting companies with an annual turnover below €1.5 billion. The scheme is expected to mobilise €150 million. The scheme aims at limiting the risk associated with issuing loans to those exporting companies that are most severely affected by the economic impact of the coronavirus outbreak, thus ensuring the continuation of their activities.

The Commission approved, on 20 April 2020, under the Temporary Framework, a French “umbrella” scheme to support small and medium-sized enterprises (SMEs) and large corporates in France affected by the coronavirus outbreak. The scheme, called “Regime Cadre Temporaire”, covers: a) limited amounts of aid in the form of direct grants, equity injections, repayable advances and subsidised loans, up to a maximum nominal amount of €100,000 for a company active in the primary agricultural sector, €120,000 in the fishery and aquaculture sector, and €800,000 in all other sectors; b) State guarantees for loans, subject to safeguards for banks to channel State aid to the real economy; and/or c) Public loans to companies with favourable interest rates.

The European Commission has approved, on 12 April 2020, under EU State aid rules, a €10 billion French guarantee scheme to support the domestic credit insurance market in the context of the coronavirus outbreak. Given the economic impact of the coronavirus outbreak, the risk of insurers not being willing to issue this insurance has become higher. The French scheme ensures that trade credit insurance continues to be available to all companies, avoiding the need for buyers of goods or services to pay in advance, therefore reducing their immediate liquidity needs.

The Commission approved, on 21 March 2020, under Article 107(3)(b), three French State aid schemes (SA.56685). Two schemes enabling the French public investment bank, Bpifrance, to provide State guarantees on commercial loans, and credit lines, respectively, for enterprises with up to 5000 employees. One scheme to provide State guarantees to banks on portfolios of new loans for all types of company - this is direct aid to the companies that will enable banks to quickly provide liquidity to any company that needs it.

The Commission approved, on 31 March 2020, under Article 107(2)(b) of the Treaty on the Functioning of the European Union (TFEU), a French scheme deferring the payment by airlines of certain aeronautical taxes. The scheme aims at compensating airlines for part of the damage suffered due to the coronavirus outbreak, by temporarily reducing the pressure on their cash flows. The scheme will be accessible to airlines with an operating licence in France, and will offer them the possibility to defer the payment of certain taxes that would in principle be due between March and December 2020 to after 1 January 2021, and to pay the taxes over a period of up to 24 months. The aim of the scheme is to reduce the pressure on airlines' cash flows.

The European Commission has found France's prolongation and modification of a previously approved scheme to support small and micro-enterprises as well as self-employed people affected by the economic repercussions of the coronavirus outbreak to be in line with EU State aid rules. The existing scheme, called “Fonds de solidarité” had initially been approved on 30 March 2020 under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. Support takes the form of direct grants to allow beneficiaries to face their operating costs in the difficult situation caused by the coronavirus pandemic. The beneficiaries are companies with a maximum of 10 employees and having a yearly turnover not exceeding €1 million. Companies are eligible when their business was closed by administrative decision as a result of the coronavirus outbreak, or when their monthly turnover in March and /or April 2020 dropped by 50% compared to their turnover in the same period last year.

Germany

The European Commission has approved a German “umbrella” scheme supporting: (i) coronavirus relevant research and development (R&D) activities, (ii) investments into testing and upscaling infrastructures that contribute to developing coronavirus relevant medicinal products, and (iii) investments into production facilities for medicinal products needed to respond to the outbreak. The scheme, called "Bundesregelung Forschungs-, Entwicklungs- und Investitionsbeihilfen”, aims to enhance and accelerate both the development and the production of products directly relevant to the coronavirus outbreak. These include medicinal products such as vaccines, hospital and medical equipment (including ventilators), and protective clothing and equipment. The public support will take the form of direct grants, repayable advances and tax advantages. Guarantees to cover losses may also be granted, either in addition to a direct grant, tax advantage or repayable advance, or as an independent aid measure. The measure allows aid to be granted by German authorities at all levels, including the Federal government, regional and local authorities. The scheme is open to all enterprises capable to carry out such activities in all sectors. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.

The European Commission has found a state-guaranteed €550 million public loan in favour of German charter airline Condor to be in line with EU State aid rules. Germany notified to the Commission an aid measure to partly compensate charter airline Condor for the damage suffered due to the cancellation or re-scheduling of its flights as a result of the imposition of travel restrictions introduced by Germany and by many destination countries to limit the spread of the coronavirus. The support will take the form of a State-guaranteed €550 million public loan granted via the German development bank Kreditanstalt für Wiederaufbau (KfW). The exact damage suffered by Condor as a result of the outbreak will be quantified after the coronavirus crisis, based on the airline's operating accounts for the year 2020. The method used to quantify the damage will be subject to the Commission's prior approval. Furthermore, should the German public support exceed the damage actually suffered by Condor due to the coronavirus outbreak a claw-back mechanism will be activated. The risk of the State aid exceeding the damage is therefore excluded. The Commission assessed the measure under Article 107(2)(b) of the Treaty on the Functioning of the European Union (TFEU), which enables the Commission to approve State aid measures granted by Member States to compensate specific companies or specific sectors (in the form of schemes) for damage directly caused by exceptional occurrences.

The European Commission has approved, under EU State aid rules, a German guarantee scheme to support the trade credit insurance market in the face of the coronavirus outbreak. Germany notified to the Commission a State guarantee scheme supporting the insurance of trade between companies affected by the coronavirus outbreak. Trade credit insurance protects companies supplying goods and services against the risk of non-payment by their clients.

The Commission approved, on 11 April 2020, amendments to two German schemes to support companies affected by the coronavirus outbreak (“ Bundesregelung Kleinbeihilfen 2020” and “Bundesregelung Darlehen 2020”), under the Temporary Framework. The modifications to the earlier approved support measures concern modifications of the schemes in light of the amendments to the Temporary Framework approved by the Commission on 3 April 2020: The “ Bundesregelung Kleinbeihilfen 2020” scheme to support companies affected by the coronavirus outbreak provided for aid to be granted via direct grants, repayable advances and tax or payment advantages. The amendment approved allows also for aid in the form of loans, guarantees and equity. In particular, under the amended Temporary Framework, guarantees can cover 100% of the risk of loans with a nominal amount of up to €800,000. The scheme enabling granting of loans at favourable terms “ Bundesregelung Darlehen 2020” is now amended in order to allow for subsidised interest rates for loans provided to beneficiaries.

The Commission approved, on 21 March 2020, under Article 107(3)(b), two German aid schemes (SA.56714) . These schemes will allow the German promotional bank Kreditanstalt für Wiederaufbau to provide liquidity in the form of subsidised loans to companies affected by the Coronavirus outbreak, in close cooperation with commercial banks.

The Commission approved, on 24 March 2020, under the Temporary Framework, another German scheme to support companies affected by the coronavirus outbreak. The aid under the "Bundesregelung Kleinbeihilfen 2020” scheme takes the form of direct grants, repayable advance or tax and payment advantages.

The Commission approved, on 24 March 2020, under the Temporary Framework, a German scheme to enable the granting of loan guarantees at favourable terms to help businesses cover immediate working capital and investment needs. This support will be implemented through German federal and regional authorities, and promotional and guarantee banks.

The Commission approved, on 2 April 2020, under the Temporary Framework, a German State aid scheme extending measures adopted on 22 March 2020 to support the economy in the context of the coronavirus outbreak. In particular, the extension enables support to be granted by other regional authorities and promotional banks not covered by the existing measures. This new scheme is open to all companies of the real economy, and enables the granting of loans at favourable terms to help businesses cover immediate working capital and investment needs.

Greece

The Commission approved, on 11 May 2020, under the Temporary Framework, a €500 million Greek scheme to support self-employed individuals, including self-employed managers of small companies in sectors affected by the coronavirus outbreak. The scheme will provide a one-off payment of €800 per self-employed person, including self-employed managers of companies that employ less than 20 employees in sectors severely affected by the coronavirus outbreak. The measure aims at partially compensating the eligible beneficiaries for the potential loss of income due to the coronavirus outbreak.

The Commission approved, on 5 May 2020, under the Temporary Framework, a €10 million Greek State aid scheme to support companies active in the primary production of floricultural products affected by the coronavirus outbreak. The support will be accessible to companies of all sizes active in this sector in Greece, and will take the form of direct grants, aims at ensuring that those companies which are experiencing cash difficulties due to the coronavirus outbreak have sufficient liquidity to maintain their activities during and after the outbreak.

The Commission approved, on 30 April 2020, under the Temporary Framework, Greece's modification of a previously approved guarantee scheme to support companies affected by the coronavirus outbreak, extending its scope and increasing its budget to €2.25 billion. The support measures available under the scheme will be co-financed by EU structural funds (ESIF). The existing scheme was initially approved on 3 April 2020. Following the approval of a €2 billion Greek guarantee scheme to support companies affected by the coronavirus outbreak adopted on 3 April 2020, the scheme will now be accessible to the self-employed and to undertakings in the aquaculture and agriculture sector. In addition to the issuance of partial guarantees for eligible working capital loans provided under the initial measure, the scheme will now also offer the possibility for subsidisation of the guarantee premiums for loans. The subsidisation will take the form of direct grants from the COVID-19 Guarantee Fund.

The Commission approved, on 3 April 2020, under the Temporary Framework, a Greek aid scheme to support the Greek economy in the context of the coronavirus outbreak. This support measure is in the form of guarantees on loans, and will be implemented through the issuance of guarantees by the Hellenic Development Bank (HDB) to financial intermediaries. The measure will partially guarantee eligible working capital loans originated by financial intermediaries, to help businesses cover immediate working capital needs. It is open to all Greek undertakings with the exception of financial intermediaries, such as banks, undertakings active in aquaculture, in agriculture and in sectors non-eligible by the European Regional Development Fund.

The Commission approved, on 7 April 2020, under the Temporary Framework, a Greek aid scheme to support companies affected by the coronavirus outbreak. The Greek support measure is a repayable advances scheme, open to companies active in all sectors and applies to the whole territory of Greece. It is targeted at companies having temporary financial difficulties due to the coronavirus outbreak, as demonstrated by a significant reduction of their activity. The scheme will help to ensure that liquidity remains available in the market, to counter the damage inflicted by the outbreak and to preserve the continuity of economic activity during and after the outbreak. The repayable advances will be disbursed by the Independent Authority for Public Revenue (AADE) directly to the companies, without the intermediation of banks. Support under this scheme will be granted until 31 June 2020.

The Commission approved, on 8 April 2020, under the Temporary Framework, a Greek aid scheme to support the Greek economy in the context of the coronavirus outbreak. This new scheme will support small and medium-sized enterprises (SMEs) affected by the coronavirus outbreak, and takes the form of grants. It is intended to cover interest up to €800 000 per company on existing debt obligations (fixed-maturity loans, bonds or bank overdrafts) for a period of 3 months, with an option for extension for another 2 months. The scheme will apply to the whole territory of Greece and will be open to SMEs from sectors affected by the coronavirus outbreak. The scheme is designed to support the liquidity of SMEs facing temporary difficulties as a result of the outbreak and, thus, remedy a serious disturbance in the Greek economy.

Hungary

The Commission approved, on 25 May 2020, under the Temporary Framework, a Hungarian scheme, with an estimated budget of HUF 57 billion (approximately €156 million), to support the Hungarian economy in the context of the coronavirus outbreak. The support will take the form of equity injections and convertible loans (i.e. loans that can be converted into equity) of up to €800,000. The scheme will be open to companies active in all sectors, with some exceptions defined by Hungary, namely companies active in the agricultural, fishery and aquaculture sectors. It is estimated that between 140 and 220 companies will benefit from the support. The purpose of the scheme is to address the liquidity needs of companies affected by the current crisis and to help them to continue their activities, start investments and maintain employment during and after the outbreak.

The Commission approved, on 25 May 2020, under the Temporary Framework, an approximately €60 million (HUF 21 billion) Hungarian scheme to support micro, small and medium sized enterprises (“SMEs”) affected by the coronavirus outbreak. The aim of the measure is to ensure that micro companies and SMEs affected by the coronavirus outbreak have sufficient liquidity to cover their immediate working capital and investment needs by facilitating access to loans. The support will take the form of direct grants intended to cover part of the financial costs (interests and handling fees) incurred by micro companied and SMEs in relation to certain loans granted until 31 December 2020. The aid will be channelled through credit institutions. The Hungarian authorities expect that up to 6,000 micro companies and SMEs will be able to benefit from the scheme.

The European Commission has approved an approximately €99 million (HUF 35 000 million) scheme to support the Hungarian agri-food, fisheries and aquaculture, forestry and game management (hunting) sectors in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020 and 8 May 2020. The support will take the form of grants and will be accessible to companies of all sizes active in these sectors. The purpose of the scheme is to address the liquidity needs of these companies, and to help them to continue their activities during and after the outbreak. It is estimated that more than 15,000 enterprises will benefit from this support. The Commission found that the Hungarian scheme is in line with the conditions set out in the Temporary Framework. In particular, aid does not exceed €120,000 per company active in the fishery and aquaculture sector and €100,000 per company active in the primary production of agricultural products.

The Commission approved, on 7 May 2020, under the Temporary Framework, a Hungarian scheme to support the agri-food value chain in the context of the coronavirus outbreak, which is expected to mobilise at least approximately €314 million (approx. HUF 111 billion). The scheme will be open to small and medium-sized enterprises (SMEs) active in all sectors, but is aimed at the wider agri-food value chain. The objective of the measure is to provide those companies with financial means to cover their immediate working capital and investment needs, and help them maintain their activities during these difficult times.

The European Commission has approved three Hungarian aid measures, with a total budget of around € 900 million, to support the Hungarian economy in the context of the coronavirus outbreak. The schemes were approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. Under the three schemes, , with a total budget of around € 900 million, the public support will take the form of (i) direct grants, (ii) guarantees on loans, and (iii) subsidised interest rates for loans, respectively. The measures, which will be open to small and medium-sized enterprises (SMEs) and large companies facing economic difficulties and liquidity shortages due to the coronavirus outbreak. The schemes are expected to benefit up to 5,000 businesses. The schemes aim at providing businesses which are particularly affected by the coronavirus outbreak with sufficient liquidity to cover their immediate working capital and investment needs, thus enabling them to continue their activities, make investments and maintain employment during and after the outbreak.

The European Commission has approved a €1.55 billion (approximately HUF 550 billion) Hungarian aid scheme to support the Hungarian economy in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. The scheme consists of two complementary measures that will be managed and implemented by two separate entities: (i) The semi State-owned Garantiqa Credit Guarantee Company Ltd. will provide guarantees on loans up to a maximum of €14 million (approximately HUF 5 billion) per company; (ii) The State-owned MFB Ltd. (Hungarian Development Bank) will provide guarantees for loans in excess of that amount up to a maximum of €28 million (approximately HUF 10 billion) per company. Under the scheme, the public support provided by Garantiqa will take the form of State guarantees on new and existing investment and working capital loans. The support provided by the Hungarian Development Bank will take the form of State guarantees on new investment and working capital loans. The guarantees will be channelled through credit institutions. The scheme will be open to micro, small and medium-sized enterprises (SMEs) and large companies.

The European Commission has approved a HUF 31.5 billion (approximately €88 million) Hungarian wage subsidies support scheme for researchers and developers active in all sectors affected by the coronavirus outbreak. The measure is accessible to companies of all sizes and especially to those that are research and innovation intensive. The Commission found that the scheme notified by Hungary is in line with the conditions set out in the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. In particular, (i)the measure will compensate the wage costs for employees who qualify as researchers and developers and is limited to undertakings which would otherwise lay off personnel due to the coronavirus outbreak, (ii) the aid intensity complies with the maximum 80% allowed by the Temporary Framework, and (iii) the aid scheme respects the maximum duration of twelve months.

The European Commission approved, on 17 April 2020, a HUF 350 billion (approximately €1 billion) scheme to support the Hungarian economy in the context of the coronavirus outbreak. Support will be in the form of direct grants, loans and equity measures, using EU structural funds for that purpose. The scheme will be open to all companies, i.e. micro, small and medium-sized enterprises (SMEs) and large companies, which have access to European structural funds and are facing difficulties as a result of the economic impact of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.

The Commission approved, on 8 April 2020, under the Temporary Framework, a Hungarian aid scheme to support the Hungarian economy in the context of the coronavirus outbreak. The scheme is to support businesses affected by the coronavirus outbreak, and will be managed by the competent agency, Hungarian Investment Promotion Agency NonProfit Ltd (HIPA Non-Profit Ltd). The public support, which will take the form of direct grants, will be accessible to medium and large enterprises, which are particularly hit by the economic consequences of the coronavirus outbreak and which are active in certain sectors defined by Hungary. The scheme aims at supporting companies that face difficulties due to loss of income and liquidity resulting from the economic impact of the coronavirus outbreak. In particular, it will help businesses to cover their immediate working capital or investment needs.

Ireland

The Commission approved, on 21 April 2020, under the Temporary Framework, an Irish scheme to support companies affected by the coronavirus outbreak. The scheme, called “Sustaining Enterprise Scheme”, will support undertakings operating in the manufacturing and internationally traded services sectors in Ireland affected by the coronavirus outbreak. The public support, which will take the form of direct grants, repayable advances, equity injections, and subsidised loans, aims at ensuring that companies have sufficient liquidity to maintain their activities during and after the outbreak. The scheme, which applies to the whole territory of Ireland, will be open to companies of all sizes.

The Commission approved, on 31 March 2020, under the Temporary Framework, an Irish scheme to support companies affected by the coronavirus outbreak. The support, in the form of repayable advances, will be accessible to companies that experience or expect to experience a decline in turnover of at least 15% compared to their revenue before the coronavirus outbreak in Ireland. The scheme applies to undertakings in Ireland employing 10 or more full time employees in certain manufacturing sectors and/or internationally traded sectors, with a turnover of less than €500 million per year.

Italy

The Commission approved, on 29 May 2020, under the Temporary Framework, a €12 million Italian scheme to support companies active in the agricultural sector affected by the coronavirus outbreak. The support will take the form of direct grants and will be accessible to companies of all sizes, including the self-employed, active in the agriculture sector. Support under the Common Agricultural Policy will be paid approximately 4 months before the envisaged date. The purpose of the scheme is to further address the liquidity needs of farmers and to help them continue their activities by compensating them for the interests that they have to pay on this anticipation of the payment. The measure is expected to benefit over 1,000 enterprises. The aid does not exceed €100,000 per company.

The Commission approved, on 21 May 2020, under the Temporary Framework, a €9 billion Italian “ umbrella” scheme to support the Italian economy in the context of the coronavirus outbreak. Under the scheme, the Italian Regions and Autonomous Provinces, other territorial bodies as well as Chambers of commerce, will be able to provide support to companies of all sizes, including self-employed, small and medium-sized enterprises (SMEs) and large companies. Public support can be granted through: Direct grants, guarantees on loans and subsidised interest rates for loans. Aid for coronavirus-related research and development (R&D), for the construction and upscaling of facilities to develop and test coronavirus-relevant products, and for the production of coronavirus-related products, such as vaccines, medical products, treatments and devices, disinfectants and protective clothing, active pharmaceutical ingredients and active substances used for disinfectants. Wage subsidies for employees to avoid lay-offs during the coronavirus outbreak. This scheme aims at supporting companies that face difficulties due to loss of income and liquidity shortages resulting from the economic impact of the coronavirus outbreak. In particular, it will help businesses cover immediate working capital or investment needs. This scheme will also support and promote research and production of coronavirus-related products and will help employees to avoid layoffs in these difficult times.

The European Commission has approved a €70 million scheme to support companies active in the agricultural and fishery sectors in the Campania region in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020 and 8 May 2020. The support will take the form of direct grants and will be accessible to companies of all sizes, including the self-employed, active in the agriculture, fishery and aquaculture sectors in the territory of Campania. The purpose of the scheme is to address the liquidity needs of these companies and to help them continue their activities during and after the outbreak. The measure is expected to support over 1,000 enterprises. The Commission found that the Italian scheme is in line with the conditions set out in the Temporary Framework. In particular, aid does not exceed €120,000 per company active in the fishery and aquaculture sector and €100,000 per company active in the primary production of agricultural products.

The Commission, approved on 4 May 2020, under Temporary Framework, a €30 million Italian scheme to support small and medium-sized enterprises (SMEs) in the agricultural and fishery sectors in the context of the coronavirus outbreak. The scheme, which will be open to SMEs active in these sectors aims at enabling those companies to have access to the financial means they need to cover their immediate working capital needs, thus helping them to continue their activities. Under the scheme, support will be granted in the form of zero-interest rate loans by the State-owned Service Institute for the Agricultural and Food Market (ISMEA).

The Commission approved, on 21 April 2020, under the Temporary Framework, a €50 million Italian scheme to support the agricultural, forestry and fishery sectors in the Friuli Venezia Giulia region in the context of the coronavirus outbreak. The Italian regional support measure will support companies of all sizes active in the agricultural, forestry and fishery sectors in the Friuli Venezia Giulia region, that are facing difficulties due to the coronavirus outbreak. Under the scheme, support will be granted in the form of loans with favourable interest rates channelled through financial institutions, and in the form of direct grants. The aim of the scheme is to help businesses in these sectors cope with the liquidity issues brought about by the coronavirus crisis by giving them access to the financial means they need to cover their immediate working capital and investment needs, thus ensuring the continuation of their activities.

The Commission approved, on 21 April 2020, under the Temporary Framework, an Italian State aid scheme to support small and medium-sized enterprises (SMEs) in the agricultural, forestry, fishery and aquaculture sectors in the context of the coronavirus outbreak. Under the scheme, support will be granted by the State-owned ISMEA Guarantee Fund, through financial institutions, in the form of: (i) State guarantees on investment and working capital loans; (ii) Direct grants, in the form of waiving of the applicable fee on guarantees awarded. The scheme aims at enabling those companies to have access to the financial means they need to cover their immediate working capital and investment needs and maintain their activities.

The European Commission has approved an Italian aid scheme to support self-employed workers and companies with up to 499 employees affected by coronavirus outbreak. The aim of the scheme is to help businesses to cover their immediate working capital and investment needs, thus ensuring the continuation of their activities.

The European Commission has approved an Italian aid scheme to support the economy in the context of the coronavirus outbreak. Italy notified to the Commission under the Temporary Framework a guarantee scheme for new working capital and investment loans granted by banks, to support companies affected by the coronavirus outbreak. The aid will be granted by State-owned SACE, through financial institutions, to companies affected by the coronavirus outbreak.

The European Commission approved on 25 March 2020 the Italian State guarantee supporting a debt moratorium from banks to small and medium-sized enterprises (SMEs) affected by the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework to support the economy in the context of the COVID-19 outbreak adopted by the Commission on 19 March 2020.

The Commission approved, on 22 March 2020, an Italian aid scheme to support the production and supply of medical devices, such as ventilators, and personal protection equipment, such as masks, goggles, gowns, and safety suits. The scheme will help Italy provide the necessary medical treatment to those infected, while protecting healthcare operators and citizens, and was approved under the Temporary Framework.

Latvia

The Commission approved, on 29 May 2020, under the Temporary Framework, a €800,000 Latvian scheme to support tour operators that bore the costs of the repatriation of travellers in the context of the coronavirus outbreak. The public support, which will take the form of direct grants, is intended to cover the financial costs incurred by those operators for the repatriation to Latvia of travellers who were on holiday abroad in the course of the outbreak. The aid will be channelled through the Latvian Consumer Rights Protection Centre. The purpose of the scheme is to mitigate the liquidity shortages that tour operators had to face due to the costs incurred to repatriate travellers and to help them progressively resume their activities during and after the outbreak.

The Commission approved, on 12 May 2020, under the Temporary Framework, a €1.5 million Latvian scheme to support companies active in the primary agricultural production sector affected by the coronavirus outbreak. The support will be accessible to companies of all sizes active in this sector. Under the scheme, support will be granted in the form of zero-interest rate loans by the Rural Support Service, a state administration institution operating under the supervision of the Latvian Ministry of Agriculture. The scheme will enable companies active in the primary agricultural production sector to stabilise their cash flow and pay for supplied goods, raw materials (such as seeds, planting materials, plant protection products, mineral fertilisers) and services.

The European Commission has approved a €35.5 million Latvian scheme to support the agricultural, fishery, food and school catering sectors that are facing difficulties due to the coronavirus outbreak.

The support takes the form of direct grants and aims to help these businesses cope with the liquidity problems brought about by the coronavirus crisis by compensating them for losses linked to the slowing down of the economic activity. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.

The Commission approved, on 23 March, two Latvian support measures under the State aid Temporary Framework. The schemes aim at enhancing the access to external financing for companies that are the most severely affected by the economic impact of the coronavirus outbreak: one is a loan guarantee scheme, and the other a subsidised loan scheme. 

Lithuania

The Commission approved, on 26 May 2020, under the Temporary Framework, Lithuanian plans to set up a fund with a target size of up to €1 billion that will invest through debt and equity instruments in medium-sized and large enterprises active in Lithuania affected by the coronavirus outbreak. Under the scheme, the support will take the form of subsidised debt instruments and recapitalisation instruments. The State will provide an initial investment of €100 million in the fund, and will guarantee bonds up to €400 million that will be issued to raise additional capital for the fund. The State's total investment in the fund may therefore increase up to €500 million. The fund will also aim to attract private investments for up to additional €500 million. Private investments will be made on different terms with respect to the State: the risk-sharing arrangements will be determined through an open, transparent, non-discriminatory call in order to minimise any possible aid to private investors.

The Commission approved, on 25 May 2020, under the Temporary Framework, a Lithuanian scheme, with an estimated budget of €10 million, to support of cultural and art institutions and organisations, in the context of the coronavirus outbreak. The measure, which will take the form of direct grants, is intended to support the creation of new products and/or services by cultural and art institutions and organisations in the period between 19 March and 31 December 2020. The objective of the scheme is to help ensure the continuation of activities of these organisations during and after the outbreak. It also aims at promoting the creation of digital cultural products and services, in view of the physical restrictions and other adjustments introduced by the Lithuanian government to limit the spread of the coronavirus.

The European Commission has approved Lithuanian's plan to modify a previously approved subsided loan scheme to further support the Lithuanian economy in the context of the coronavirus outbreak. The amendment was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April and 8 May 2020. On 9 April 2020, the Commission approved two Lithuanian aid schemes to provide liquidity to companies affected by the outbreak in the form of subsidised loans. The present amendment concerns only one of the two existing schemes, namely the measure - offered to SMEs via financial intermediaries - aiming at facilitating access to finance in the form of subsidised loans to companies facing cash shortages as a result of the coronavirus outbreak. Lithuania notified the following modifications to this existing scheme: (i) an increase in the estimated total budget of the scheme from €100 million to €200 million; (ii) the maximum duration of the loans will be increased from 36 months to 72 months; and (iii) the maximum underlying loan amount per beneficiary will be increased to €1 million (from the original €100 000).

The Commission approved, on 30 April, under the Temporary Framework, a Lithuanian rent compensation scheme to support tenants operating in certain sectors, including retail, hotels, restaurants, culture and sports. The scheme will be accessible to companies operating in certain sectors defined by Lithuania, including retail, hotels, restaurants, culture and sports and whose annual turnover in the previous year does not exceed €50 million. The public support will take the form of direct grants to cover part of the rents due by those companies. The scheme aims at mitigating the sudden liquidity shortages that tenants operating in certain sectors are facing due to the measures imposed by the Lithuanian State to limit the spread of the coronavirus.

The Commission approved, on 24 April 2020, under the Temporary Framework, a direct grant scheme to support the Lithuanian economy in the context of the coronavirus outbreak. This latest Lithuanian support measure is a scheme to support small and medium-sized enterprises (SMEs) active in road freight transport in managing financial risks, paying loans and maintaining financial stability and, thus, remedy a serious disturbance in the Lithuanian economy. The scheme is intended to cover interest on existing debt obligations until 31 December 2020 and for a maximum period of six months. It will apply to the whole territory of Lithuania and will be open to SMEs active in road freight transport, a sector negatively affected by the coronavirus outbreak.

The Commission approved, on 10 April, under the Temporary Framework, two Lithuanian aid schemes to support the Lithuanian economy in the context of the coronavirus outbreak. The Lithuanian support measures, offered by the national promotional institution INVEGA, aim at providing liquidity in the form of subsidised loans to companies affected by the coronavirus outbreak, in particular: (i) The first measure, which is offered to SMEs via financial intermediaries, will facilitate access to finance in the form of subsidised loans for enterprises facing cash shortages. (ii) The second measure, which is directly provided to companies, concerns loans for outstanding invoices.

The Commission approved, on 8 April, under the Temporary Framework, a Lithuanian aid scheme to support the Lithuanian economy in the context of the coronavirus outbreak. The Lithuanian support measure is a guarantee scheme for working capital and investment loans granted by commercial banks to support companies affected by the coronavirus outbreak. The support under the Lithuanian scheme will be open to small and medium-sized enterprises (SMEs) and large companies facing difficulties as a result of the economic impact of the coronavirus outbreak. The aim of the scheme is to help businesses to cover their immediate working capital or investment needs, thus ensuring the continuation of their activities.

Luxembourg

The Commission approved, on 2 June 2020, under the Temporary Framework, two Luxemburgish State aid schemes, for a total estimated amount of €260 million, to support certain companies severely affected by the coronavirus outbreak. In the framework of both schemes, the aid will be given in the form of direct grants. The first scheme, with an estimated budget of €200 million, will be open to businesses of all sizes operating in certain sectors defined by Luxembourg (including hotels, restaurants, and travel and event organisers). These businesses will be able to benefit from the scheme if they have had a fall in turnover of at least 25% due to the coronavirus outbreak, during the first half of 2020 and if this situation is expected to continue during the second half of 2020. The second scheme, with an estimated budget of €60 million, will be open to micro and SMEs in the retail sector, or offering certain categories of services, as defined by Luxembourg (such as hairdressers, opticians, stylists, dry-cleaning and laundry services). These businesses can benefit if they have had to suspend their activities or have registered a fall in turnover of at least 50% between March and May 2020 due to the pandemic. The aim of these State aid schemes it to respond to companies’ sudden need for liquidity as a result of the coronavirus outbreak, and to help them continue their activities.

The Commission approved, on 25 May 2020, under the Temporary Framework, a €30 million Luxembourg aid scheme to support investments by companies affected by the coronavirus outbreak. The scheme will be accessible to companies of all sizes active in all sectors, with some exceptions defined by Luxembourg, namely companies active in the financial sector, in the fishery and aquaculture sectors and in the primary production of agricultural products. The objective of the scheme is to enable companies experiencing a decrease in liquidity due to the coronavirus outbreak to undertake investments that they would not otherwise undertake due to the current crisis.

The European Commission approved on 27 March another Luxembourg State aid scheme to support the Luxembourgish economy in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework to support the economy in the context of the COVID-19 outbreak adopted by the Commission on 19 March 2020.

The Commission approved, on 24 March 2020, under the Temporary Framework, Luxembourg's scheme to support companies and liberal professions affected by the economic impact of the coronavirus outbreak. The support takes the form of a repayable advance to allow beneficiaries to cover their operating costs in the difficult situation caused by the coronavirus outbreak.

The Commission approved, on 8 April 2020, under the Temporary Framework, a Luxembourg aid scheme to support coronavirus related research and development (R&D) and investments in the production of products relevant to the coronavirus outbreak. The Luxembourg support scheme is open to small, medium-sized and large enterprises of all sectors. Aid will be granted in the form of direct grants to enhance and accelerate research and the production of products directly relevant to coronavirus. These include medicinal products including vaccines, hospital and medical equipment including ventilators, protective clothing and equipment as well as diagnostic tools. The R&D part of the scheme covers fundamental research, industrial research and experimental development projects. The investment part of the scheme will cover 80% of the eligible costs that companies have to bear to create production capacities to manufacture coronavirus relevant products.

Malta

The Commission approved, on 14 May 2020, under the Temporary Framework, a €40 million Maltese interest rate subsidy scheme to support companies facing acute liquidity shortages due to the current coronavirus outbreak. The purpose of the scheme is to address the liquidity needs of companies of all sizes in Malta. The support will take the form of an interest rate subsidy by covering the interest costs on the initial two years of a loan, which will result in lower interest rates for the borrower. Consequently, the measure will mitigate the pressure on the liquidity and financial sustainability of Maltese companies. This measure follows the €350 million guarantee scheme, which was approved on 2 April 2020.

The Commission approved, on 12 May 2020, under the Temporary Framework, a Maltese aid scheme of €11.5 million to support investments in the production of products that are relevant to the coronavirus outbreak, including vaccines, ventilators and personal protective equipment. Under the scheme, the public support will take the form of direct grants, repayable advances and tax advantages. The scheme is open to all enterprises of all sectors capable of increasing production of coronavirus-relevant products or of diversifying existing production to be able to produce and manufacture such products. The aim of the scheme is to enhance and accelerate the production of products directly relevant to the coronavirus outbreak.

The Commission approved, on 24 April 2020, under the Temporary Framework, a Maltese wage subsidies scheme to support companies operating in the sectors affected by the coronavirus outbreak. The Maltese support measure will finance the wage costs of employers that, due to the coronavirus outbreak, would otherwise have laid off employees. The scheme will be accessible to companies of all sizes and also self-employed individuals operating in sectors that are strongly affected by the current health crisis and the containment measures adopted by national authorities.  The aim of the scheme is to preserve employment and avoid lay-offs of employees at a time when many business activities are either suspended or significantly reduced.

The European Commission has approved, on 22 April, a €5.3 million Maltese direct grants scheme to support investment in research and development (R&D) related to the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. The Maltese scheme supports R&D activities related to the coronavirus outbreak. The public support will take the form of direct grants.

The Commission approved, on 2 April 2020, under the Temporary Framework, a Maltese State aid scheme to support the economy in the context of the coronavirus outbreak. The support takes the form of a guarantee scheme for working capital loans granted by commercial banks to support companies affected by the coronavirus outbreak.

The Netherlands

The Commission approved, on 29 May 2020, under EU State aid rules, Dutch plans to set up a new development finance institution named “Invest International”. Invest International will be set up as a joint venture between the Dutch State and the existing Dutch development finance institution FMO. The Dutch State would grant start-up capital of up to €800 million and provide yearly subsidies of €9 million. Invest International will have as objectives to support the foreign trade and international cooperation objectives of the Dutch authorities by supporting entrepreneurs and international projects in low-income, lower-middle-income and upper-middle-income countries. The scope of Invest International's activities will provide additional financing to companies and projects that otherwise remain underfinanced because of market failures. Concretely, Invest International will focus on improving access to finance to small and medium-sized enterprises (SMEs), certain small-midcaps and local public authorities for the execution of projects that are in line with Invest International's objectives. The Commission found that the creation of Invest International is an appropriate and proportionate solution to provide additional financing to companies and projects that otherwise remain underfinanced because of market failures. Furthermore, Invest International will implement safeguards to ensure that the state-supported institution does not crowd out private financial institutions.

The Commission approved, under the Temporary Framework, a €713 million Dutch aid scheme to support small and medium sized enterprises (SMEs) affected by the coronavirus outbreak. The support will take the form of guarantees on loans with a nominal loan amount between €10,000 and €50,000. The State guarantee will cover 95% of the loan. The scheme aims at providing liquidity to SMEs affected by the coronavirus outbreak, thus enabling them to continue their activities, start investments and maintain employment. Companies active in all sectors are eligible for aid under this scheme, with the exception of those in the commercial real estate, financial, publicly funded health care, fishery, aquaculture and agriculture sectors. The measure is expected to support 30,000 enterprises.

The Commission approved, on 25 May 2020, under EU State aid rules, a Dutch guarantee scheme to support the trade credit insurance market in face of the coronavirus outbreak. Trade credit insurance protects companies supplying goods and services against the risk of non-payment by their clients. Given the economic impact of the coronavirus outbreak, the risk of insurers not being willing to issue this insurance has become higher. The Dutch scheme ensures that trade credit insurance continues to be available to all companies, avoiding the need for buyers of goods or services to pay in advance, therefore reducing their immediate liquidity needs. The Commission assessed the measure under EU State aid rules, and in particular Article 107(3)(b) of the Treaty on the Functioning of the European Union (TFEU), which enables the Commission to approve State aid measures implemented by Member States to remedy a serious disturbance in their economy.

The Commission approved, on 8 May 2020, under EU State aid rules, a Dutch scheme that compensates companies in the floriculture, specialty horticulture and potato sectors for the loss of revenue or additional costs related to the collapse in demand for their products. Through the scheme, €600 million will be allocated to aid farmers and traders in the floricultural sector and companies in the specialty horticultural sector for the food-service market, who have been negatively affected by the coronavirus outbreak, and €50 million to compensate potato growers affected by the outbreak. Under the scheme, these operators will be entitled to compensation for certain damages suffered. The Commission assessed the measure under Article 107(2)(b) of the Treaty on the Functioning of the European Union (TFEU), and the European Union Guidelines for State aid in the agricultural and forestry sectors and in rural areas 2014 to 2020. The latter set out criteria for the assessment of damage caused by exceptional occurrences to compensate companies in the agricultural sector under Article 107(2)(b) TFEU.

The Commission approved; on 24 April 2020, under the Temporary Framework, a Dutch State aid scheme to support small and medium-sized companies (SMEs) in the context of the coronavirus outbreak. The Netherlands’ public support, which will take the form of subsidised interest rates on loans, will be accessible to those SMEs whose main source of financing derives from external equity, venture capital or microcredit. The aim of the scheme is to help those companies which are experiencing difficulties in accessing liquidity due to the coronavirus outbreak cover their immediate working capital and investment needs, thus helping them to continue their activities during and after the outbreak.

The European Commission has approved, on 22 April, a Dutch loan guarantee scheme of up to €10 billion to support the Dutch economy in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. The loan guarantee scheme for working capital and investment loans granted by banks will help Dutch companies meet their liquidity needs in the context of the coronavirus outbreak. In order to address companies' liquidity shortages stemming from the coronavirus outbreak, the scheme only covers loans granted by banks as of 24 March 2020. The Dutch State will guarantee 90% of new loans to small and medium-sized enterprises (SMEs) and 80% of new loans to large enterprises.

The Commission approved, on 3 April 2020, under the Temporary Framework, a Dutch scheme to support certain providers of social support and health care in offering services at home during the coronavirus outbreak. The scheme will support Dutch providers of social support services, health care and youth care in offering services at home during the coronavirus pandemic. The support, in the form of direct grants, will allow providers to purchase, lease, licence and implement e-health applications. The measure aims at avoiding that social support, health care and youth care providers are faced with liquidity problems due to a significant increase in demand of services at home, requiring investments in e-health applications, without a corresponding increase in financial support. With the measure, the providers are able to continue supporting those in need, incentivising health care services at home and replacing the non-coronavirus related health care treatments that are usually provided from hospitals to home care, as requested by the Dutch government.

Poland

The Commission approved, on 2 June 2020, under EU State aid rules, an approximately €1.6 billion (PLN 7.5 billion) Polish scheme that partially compensates large enterprises and certain small and medium-sized enterprises (SMEs) for the losses suffered due to the coronavirus outbreak and provides them with direct liquidity through loans. The scheme, which will be managed by the Polish Development Fund, is part of the “Financial Shield for Large Enterprises”, a support programme set up by the Polish authorities. The support will be given in the form of subsidised loans at favourable interest rates which can be redeemed by 30 September 2021 in an amount not exceeding 75% of the actual damage incurred by the beneficiary companies from 1 March until at the latest 31 August 2020 directly due to the coronavirus outbreak. The Commission assessed the measure, which provides for both compensation for damages and liquidity support, under both Article 107(2)(b) and under Article 107(3)(b) of the Treaty on the Functioning of the European Union (TFEU).

The Commission approved, on 29 May 2020, under EU State aid rules, an approximately €1.6 billion (PLN 7.5 billion) Polish scheme that partially compensates large enterprises and certain small and medium-sized enterprises (SMEs) for the losses suffered due to the coronavirus outbreak and provides them with direct liquidity through loans. The scheme is part of a wider Polish support programme, the so-called “Financial Shield for Large Enterprises”. The scheme, which will be managed by the Polish Development Fund, is part of the “Financial Shield for Large Enterprises”, a support programme set up by the Polish authorities which has an overall budget of approximately EUR 5.5 billion and will be open to large enterprises and certain larger SMEs registered in Poland. The support will be given in the form of subsidised loans at favourable interest rates which can be redeemed by 30 September 2021 in an amount not exceeding 75% of the actual damage incurred by the beneficiary companies from 1 March until at the latest 31 August 2020 directly due to the coronavirus outbreak. Beneficiaries of the aid will therefore have access to immediate liquidity, through loans. The aid is planned to be granted in the form of loans to be partially written-off later by an amount equivalent to the calculated damages suffered due to the coronavirus outbreak. The Commission assessed the measure, which provides for both compensation for damages and liquidity support, under two legal bases: (1) Article 107(2)(b) of the Treaty on the Functioning of the European Union (TFEU), which enables the Commission to approve State aid measures granted by Member States to compensate specific companies or specific sectors (in the form of schemes) for the damages directly caused by exceptional occurrences, and (2) under Article 107(3)(b) TFEU, which enables the Commission to approve State aid measures implemented by Member States to remedy a serious disturbance in their economy. The Commission considers that the coronavirus outbreak qualifies as an exceptional occurrence, as it is an extraordinary, unforeseeable event having a significant economic impact. Therefore, exceptional interventions by the Member States to compensate for the damages linked to the outbreak are justified.

The Commission approved, on 25 May 2020, under the Temporary Framework, a Polish subsidised loan scheme to support large enterprises in the context of the coronavirus outbreak. The scheme is part of a wider Polish support programme, the so-called “Financial Shield for Large Enterprises.” The total amount of loans that can be granted under the scheme is PLN 10 billion (approximately €2.2 billion). Under the scheme, the public support will take the form of subsidised loans at favourable interest rates. The scheme, which will be managed by the Polish Development Fund, is mostly targeted at large enterprises. It will however also be open to certain small and medium-sized enterprises (SMEs) registered in Poland, which will be eligible based on criteria defined by Poland. The scheme aims at enhancing access to liquidity for companies that are severely affected by the outbreak, thus helping them continue their activities, start investments and maintain employment.

The Commission approved, on 11 May 2020, under the Temporary Framework, a €450 million scheme (approximately PLN 2 billion) to support the Polish economy in the context of the coronavirus outbreak. The support measures available under the scheme will be co-financed by the EU structural funds (ESIF).The Polish support measure will take the form of loans and public guarantees on loans.

The European Commission has approved, on 27 April 2020, under Temporary Framework, a Polish scheme in the form of repayable advances, with a total budget of €16.6 billion (approximately PLN 75 billion), to support companies affected by the coronavirus outbreak. Under the scheme, the public support will take the form of repayable advances. The scheme will be open to micro companies (excluding self-employed workers) and small and medium-sized enterprises (SMEs) facing economic difficulties and liquidity shortages due to the coronavirus outbreak. The measure is expected to benefit around 350,000 micro-enterprises and 26,000 SMEs, which report a decrease in revenues of at least 25% in any month after 1 February 2020, when compared to either the previous month or the same month last year.

The Commission approved, on 24 April 2020, under the Temporary Framework, a scheme to support the Polish economy in the context of the coronavirus outbreak. The support measures available under the scheme will be co-financed by EU structural funds (ESIF). The Polish support scheme will support companies in all sectors, including the agricultural and fishery and aquaculture sectors, that are affected by the coronavirus outbreak, through grants and repayable advances, using EU structural funds for that purpose. Member States can decide how to use EU structural funds, in compliance with ESIF rules and - where these funds are used to grant support to companies, possibly with co-financing from the Member State - in compliance with EU State aid rules. The scheme will be open to all companies which have access to European structural funds and are facing difficulties in consequence of the coronavirus outbreak. The aim of the measure is to ensure that companies that are experiencing cash difficulties due to the coronavirus outbreak have sufficient liquidity to maintain their activities during and after the outbreak.

The Commission approved, on 23 April 2020, under the Temporary Framework, 11 Polish State aid schemes to support the Polish economy in the context of the coronavirus outbreak. The 11 Polish support schemes will support companies affected by the coronavirus outbreak. Under the schemes, the public support will take the form of (i) direct grants, (ii) repayable advances, (iii) tax and payments advantages, (iv) deferrals of tax payments and (vi) wage subsidies. The schemes, which will be open to micro (including self-employed workers), small and medium-sized enterprises (SMEs) and large companies facing economic difficulties and liquidity shortages due to the coronavirus outbreak, is expected to benefit around 2.5 million businesses, including 2 million self-employed workers.

The European Commission has approved, on 22 April, a PLN 500 million (approximately €110 million) Polish aid scheme to support the economy in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. The new scheme will be financed by reusing resources that had been paid to companies under various financial instruments during the programming period 2007-2013 for EU structural funds and that have been repaid to the State. Under the scheme approved today, the Polish authorities will be able to grant aid to support Polish companies affected by the coronavirus outbreak by providing liquidity support in the form of guarantees on loans and subsidised interest rates for loans.

The Commission approved, on 10 April, under the Temporary Framework, a Polish scheme to support the Polish economy in the context of the coronavirus outbreak. The Polish support measure, in the form of direct grants, is intended to partially cover interests on loans, which should normally be borne by the borrower. The scheme will be open to micro, small and medium-sized enterprises (SMEs) and large companies facing difficulties as a result of the economic impact of the coronavirus outbreak. The aim of the scheme is to help businesses to cover their immediate capital needs, thus ensuring the continuation of their activities.

The Commission approved, on 3 April 2020, under the Temporary Framework, a Polish aid scheme to support the Polish economy in the context of the coronavirus outbreak. The scheme consists of the provision by the Polish National Development Bank, Bank Gospodarstwa Krajowego, of public guarantees on investment loans and working capital loans. It will be accessible by medium and large Polish companies active in all sectors, and aims at limiting the risk associated with issuing loans to those companies that are most severely affected by the economic impact of the current crisis. The scheme will help businesses cover their immediate working capital or investment needs and ensure that they have sufficient liquidity to continue their activities.

The Commission approved, on 8 April 2020, under the Temporary Framework, a Polish aid scheme to support the economy in the context of the coronavirus outbreak. Following the approval by the Commission of a Polish guarantee scheme on 3 April, this new scheme will be co-financed by European Union funds under shared management, notably the European Regional Development Fund and the European Social Fund. Under this scheme, the Polish authorities will be able to grant aid to support companies affected by the coronavirus outbreak by providing liquidity support in the form of guarantees on loans and subsidised interest rates for loans.

Portugal

The European Commission approved, on 25 May 2020, under the State aid Temporary Framework, two Portuguese aid schemes intended to preserve employment in the Azores during the coronavirus pandemic, with a total budget accumulated by 43 million euros. With regard to the first aid scheme, aid may be granted to companies of all sizes operating in sectors particularly affected by the coronavirus pandemic, as defined by the regional government. With regard to the second aid scheme, companies considered to be "in a crisis situation", as defined in the national legislative decree of 26 March 2020, are eligible for the aid. For the two aid schemes, the employers undertake to maintain the employment of the members of the staff for whom they benefit from the aid until the end of December 2020.

The European Commission has approved a €140 million Portuguese aid scheme to support investment in research and development (R&D), testing and production of products that are relevant to the coronavirus outbreak, including vaccines, ventilators and personal protective equipment. Of the scheme’s total budget of €140 million, €50 million will be devoted to coronavirus related R&D projects and testing facilities and €90 million will finance the production of coronavirus relevant products. The public support will take the form of direct grants. The scheme is open to all enterprises capable of carrying out such activities in all sectors. The aim of the scheme is to enhance and accelerate both the development and the production of products directly relevant to the coronavirus outbreak. These include medicinal products such as vaccines, hospital and medical equipment including ventilators, and protective clothing and equipment. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.

The Commission approved, on 8 April 2020, under the Temporary Framework, a Portuguese scheme to support the Portuguese fishery and aquaculture sector in the context of the coronavirus outbreak. It takes the form of a credit line to support companies in the fishery and aquaculture sector affected by the coronavirus outbreak. The scheme will consist of the provision of loans worth up to €20 million with subsidised interest rates, to help companies active in this sector (such as fishing companies, producers' organisations and companies active in the processing of fishery and aquaculture products), overcome cash difficulties arising from the current crisis. The scheme, which will be accessible to small and medium-sized enterprises (SMEs) active in the fishery and aquaculture sector, aims at enabling those companies that are most affected by the current crisis, to have access, at reduced costs, to the financial means they need to maintain their activities.

The Commission approved, on 4 April 2020, under the Temporary Framework, two Portuguese State aid schemes to support the Portuguese economy in the context of the coronavirus outbreak. The schemes are to support companies affected by the coronavirus outbreak: a direct grant scheme, and a State guarantee scheme for investment and working capital loans granted by commercial banks. The support under both schemes will be accessible to small and medium-sized enterprises (SMEs) and large companies facing difficulties due to the economic impact of the coronavirus outbreak. The aim of the schemes is to help businesses to cover their immediate working capital or investment needs, thus ensuring the continuation of their activities.

The Commission approved, on 22 March 2020, four Portuguese guarantee schemes for small and medium-sized enterprises (SMEs) and midcaps affected by the Coronavirus outbreak. The schemes were approved under the State aid Temporary Framework, and apply in four different sectors: (i) tourism; (ii) restaurants; (iii) extractive and manufacturing industry; and (iv) travel agency activities, tourism, event organisation.

Romania

The Commission approved, on 11 April 2020, under the Temporary Framework, a Romanian scheme to support small and medium-sized enterprises (SMEs) in the context of the coronavirus outbreak. Under the scheme, support will be granted in the form of: Direct grants, and State guarantees for investment and working capital loans. The support under the scheme will be accessible to SMEs facing difficulties as a result of the economic impact of the coronavirus outbreak. The aim of the scheme is to help businesses cover their immediate working capital or investment needs, thus ensuring the continuation of their activities.

Slovakia

The Commission approved, on 21 April 2020, under the Temporary Framework, a Slovak aid scheme for preserving employment and supporting self-employed individuals affected by the coronavirus outbreak and the emergency measures taken by the State. The Slovak support measure is a wage subsidy aid scheme that would allow the Slovak authorities to finance a part of the wage costs (including employer's social security contributions) of undertakings that, due to the coronavirus outbreak, would otherwise have laid off personnel. The compensation will benefit employers that will preserve jobs despite the obligation to cease or reduce economic activities based on the emergency state measures. The scheme would also allow the Slovak authorities to compensate self-employed persons and employers affected by lower revenues due to the crisis or by the imposed restrictions of their operations. The measure is expected to support the jobs of close to 400,000 employees and 300,000 self-employed persons.

Slovenia

The Commission approved, on 30 April 2020, under the Temporary Framework, two Slovenian schemes to support companies affected by the coronavirus outbreak. Under the schemes, public support will be provided in the form of: rent rebates and rent exemptions for tenants of commercial real estate managed by Slovenian public bodies; and public guarantees on investment and working capital loans. Both schemes will be open to all companies active in Slovenia facing difficulties as a result of the economic impact of the coronavirus outbreak. The aim of these schemes is to address the liquidity needs of those companies which are most severely affected by the economic impact of the coronavirus outbreak and to help them to continue their activities, start investments and maintain employment during and after the outbreak.

The Commission approved, on 24 April 2020, under the Temporary Framework, a Slovenian State aid scheme to support the Slovenian economy in the context of the coronavirus outbreak. The Slovenian support measure is an “umbrella” scheme including a dozen measures to support companies affected by the coronavirus outbreak. Under the scheme, the public support will take the form of direct grants, wage subsidies, exemption from paying social security contributions, reduction of certain taxes and water fees, bank guarantees, deferred payment of certain credits and compensatory payments. 

Spain

The Commission approved, on 24 April 2020, under the Temporary Framework, the second Spanish “umbrella” scheme to support the Spanish economy in the context of the coronavirus outbreak. The Spanish umbrella scheme allows for the provision of aid in light of the amendments to the Temporary Framework approved by the Commission on 3 April 2020. More specifically, under this second “umbrella” scheme, public support can be granted in the form of (i) aid for coronavirus relevant research and development, including Seal of Excellence projects relating to coronavirus selected under Horizon 2020; (ii) investment aid for testing and upscaling infrastructures; (iii) investment aid for the production of coronavirus relevant products; (iv) aid in the form of deferrals of tax and/or of social security contributions; and (v) aid in the form of wage subsidies for employees to avoid lay-offs during the coronavirus outbreak.

The Commission approved, on 24 March 2020, under the Temporary Framework, two Spanish guarantee schemes for companies and self-employed workers affected by the coronavirus outbreak. The schemes are for new loans and refinancing operations for: (i) self-employed workers and small and medium-sized enterprises (SMEs); and (ii) larger companies, with the objective to ensure that these companies have liquidity to help them safeguard jobs and continue their activities.

The Commission approved, on 2 April 2020, under the Temporary Framework, a Spanish aid scheme to support the Spanish economy in the context of the coronavirus outbreak. This new “umbrella” scheme consists of a National Temporary Framework for State aid, based on which Spanish national, regional, and local authorities will be able to grant aid providing liquidity support to self-employed, SMEs and large companies in the form of direct grants, repayable advances, tax and payment advantages, guarantees on loans and subsidised interest rates for loans. The scheme will help businesses to cover immediate working capital or investment needs.

Sweden

The Commission found, on 24 April 2020, a Swedish State guarantee in favour of Scandinavian airline SAS to be in line with EU State aid rules (Article 107(2)(b) of the Treaty on the Functioning of the European Union). The measure aims at partly compensating the airline for the damage suffered due to the coronavirus outbreak. SAS is a major network airline operating in Sweden, Denmark and Norway. On 11 April 2020 the Commission approved a State guarantee scheme for airlines notified by Sweden. This new measure complements the existing scheme. It will partly compensate SAS for the damage suffered due to the cancellation or re-scheduling of its flights as a result of the imposition of travel restrictions linked to the coronavirus. The support will take the form of a State guarantee on a revolving credit facility in favour of SAS. Sweden will guarantee up to approximately €137 million of such revolving credit facility.

The European Commission has approved, on 22 April under EU State aid rules a SEK 420 million (approximately €38 million) Swedish scheme that compensates companies affected by the coronavirus outbreak for the loss of revenue or additional costs related to the cancellation or postponement of cultural events. Under the scheme, those operators will be entitled to compensation for the damages suffered, in the form of direct grants covering 75% of their loss of revenue or additional costs up to SEK 1 million (approx. €90,600), and 50% for the part of the losses above SEK 1 million. Aid may be granted up to a maximum amount of SEK 10 million (approx. €906,000) per beneficiary.

The Commission assessed the measure under Article 107(2)(b) of the Treaty on the Functioning of the European Union (TFEU), which enables the Commission to approve State aid measures granted by Member States to compensate specific companies or specific sectors (in the form of schemes) for the damages directly caused by exceptional occurrences.

The European Commission has approved a Swedish rent rebate scheme of up to SEK 5 billion (approximately €453 million). The scheme is designed for tenants in the hotel, restaurants, retail and several other sectors that saw their revenues heavily decreasing or even disappearing due to the coronavirus outbreak. The measure covers up to 50% of rent reductions negotiated between tenants and landlords for the period 1 April to 30 June 2020. It aims at weathering the sudden decrease in income that tenants face due to the measures to slow down the spread of the epidemic, such as travel restrictions, social distancing recommendations, and others, and at preserving the continuity of economic activity during and after the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.

The European Commission has approved a Swedish loan guarantee scheme to support airlines affected by the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.

The Commission approved, on 2 April 2020, under the Temporary Framework, a Swedish aid scheme to support the economy in the context of the coronavirus outbreak. This is a guarantee scheme for new loans granted by commercial banks to support companies, mainly SMEs, affected by the coronavirus outbreak. It aims at limiting the risk associated with issuing loans to those companies most severely affected by the economic impact of the current crisis, thus ensuring the continuation of their activity.

United Kingdom

The Commission approved, on 11 May 2020, under the Temporary Framework, a GBP 9 billion (approximately € 10.3 billion) UK aid scheme to support self-employed individuals and members of partnerships affected by the coronavirus outbreak. The scheme will support lower-end income self-employed individuals, including members of partnerships, which have been severely affected by the economic impact of the coronavirus outbreak. The scheme will allow them to continue their activities during and after the crisis. The scheme will take the form of direct grants and will be applied to all sectors and to the whole territory of the UK.

The Commission approved, on 25 March 2020, under the Temporary Framework, two separate UK State aid schemes to support small and medium-sized enterprises (SMEs) active in all market sectors having temporary financial difficulties due to the economic impact of the coronavirus outbreak called the “Coronavirus Business Interruption Loan Scheme" (CBILS).

The Commission approved, on 6 April, under the Temporary Framework, an “umbrella” UK scheme to support small and medium-sized enterprises (SMEs) and large corporates in the United Kingdom affected by the coronavirus outbreak. The measure is a UK-wide National Temporary Framework for State aid, and allows for the provision of aid in the form of: a) Direct grants, equity injections, selective tax advantages and advance payments; b) State guarantees for loans subject to safeguards for banks to channel State aid to the real economy; c) Subsidised public loans to companies with favourable interest rates; d) Support for coronavirus related research and development (R&D); e) Support for the construction and upscaling of testing facilities to develop and test products useful to tackle the coronavirus outbreak; f) Support for the production of products relevant to tackle the coronavirus outbreak. The measure allows aid to be granted by UK authorities at all levels, including central government, devolved governments, local authorities and other bodies administering schemes involving state resources channelled through their own budgets.

Background: According to the UK Withdrawal Agreement, during the transition period, the entire body of EU law continues to apply to, and in, the UK as if it were a Member State. This includes all EU rules relating to State aid.