EU Approves €5.4B Danish Scheme To Help During Coronavirus Outbreak

The European Commission has approved under EU State aid rules a DKK40 billion (US$5.8 billion) Danish scheme that compensates companies particularly affected by the coronavirus outbreak, up to a maximum of DKK60 million (US$8.7 million) per company.

Executive Vice-President Margrethe Vestager, in charge of competition policy, said, ”The coronavirus outbreak has a severe economic impact. Many companies see their revenues declining sharply, while their losses are growing. The €5.4 billion Danish scheme approved today enables Denmark to compensate businesses at least in part for the damages suffered during this difficult moment. We will continue to work closely with Member States to find solutions to help companies get through these difficult times, in line with EU State aid rules.”

Denmark notified the Commission a DKK40 billion aid scheme to compensate those companies whose activities are particularly negatively affected by the coronavirus outbreak.

Full Content: Europa Press

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.