Commission approves Italian aid measure adapting previously approved Italian national ‘umbrella’ scheme to support companies in coronavirus outbreak to the regional context of Friuli Venezia Giulia

| June 26, 2020

The European Commission has approved an Italian aid measure to further support companies affected by the coronavirus outbreak. The measure consists in certain adaptations of the previously approved national ‘umbrella’ scheme, which will be applicable to companies in the Friuli Venezia Giulia region. It 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 existing national “umbrella” scheme was approved on 21 May 2020. In order to make use of some options that, under the decision approving the existing national “umbrella” scheme, require a separate notification to the Commission, Italy notified a number of adaptations to the national umbrella scheme to be applied to the Friuli Venezia Giulia Region, including a different method to calculate the overall loan amount on the basis of the liquidity needs, a different duration of the loans and different credit risk margins.

The support will be open to companies of all sizes with an operating unit on the territory of the Friuli Venezia Giulia region, with the exception of those active in the primary agricultural, forestry, fishery and aquaculture sector. Over 3,000 companies are expected to benefit from the support. The Commission found that the measure is  in line with the conditions set out in the Temporary Framework. In particular (i) the loans are limited in duration; and ii) the loan amount per company is limited to what is needed to cover its liquidity needs for the near future.

The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework. On this basis, the Commission approved the measures under EU state aid rules. More information on the Temporary Framework and other actions taken by the Commission to address the economic impact of the coronavirus pandemic can be found here.

The non-confidential version of the decision will be made available under the case number SA.57252 in the state aid register on the Commission’s competition website once any confidentiality issues have been resolved.

Comments

Facebook comments

Tags: , , , , , ,

Category: A Frontpage, coronavirus, Coronavirus face masks, Coronavirus Global Response, COVID-19, EU, EU, European Commission, European Parliament, Featured Article, Health, Italy, PPE, State aid

Comments are closed.

Left Menu Icon