The European Commission has found a €200 million Irish scheme to support companies affected by the coronavirus outbreak to be in line with EU State aid rules.
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.
Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “With this €200 million Irish scheme, approved under the new State aid Temporary Framework, we continue to work with Member States to ensure timely support to the economy through these difficult times. This measure will, in the form of repayable advances, help companies affected by the coronavirus outbreak to weather this crisis and bounce back strongly afterwards.”
Ireland notified to the Commission a €200 million scheme to support companies affected by the coronavirus outbreak under the Temporary Framework.
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.
Full Content: European Commission
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Canadian School Boards Sue Social Media Giants for $4 Billion
Mar 28, 2024 by
CPI
Alaska Airlines and Hawaiian Airlines Enter Timing Agreement with DOJ
Mar 28, 2024 by
CPI
Sam Bankman-Fried Gets 25-Year Sentence for $8B Crypto Fraud
Mar 28, 2024 by
CPI
Walmart Withdraws and Refiles Antitrust Review Application for Vizio Acquisition
Mar 28, 2024 by
CPI
Apple Prevails in Dismissal of Crypto-Payment Antitrust Lawsuit
Mar 27, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI