COVID-19: Revised EU state aid guidelines adopted

Dear Members,

This is to let you know that the temporary EU state aid guidelines that were announced earlier this week were adopted, see here. These Guidelines will serve as the basis for all DG COMP decisions on measures taken because of the COVID-19 crisis.

The guidelines are largely in line with what EVP Vestager had signaled earlier this week (see below).

The temporary guidelines will apply until the end of this year, but can be extended.

• Direct grants allowed up to 800.000 Euro per firm, which is higher than the 500.000 initially signaled.
• it sets out a specific framework for allowing state guarantees and loans
• it sets out a specific framework for subsidised interest rates on loans
• It introduces safeguards that state guarantees do not benefit banks through which they are channeled

Please log in to the member area and click ‘COVID-19 Updates’ to discover daily updates for ATEB members.

Thank you Tarek Tranberg, EACT and Fleishman Hillard for providing us with this overview and I hope you find the information useful in these challenging times.

Keep healthy and let us know if ATEB can help in any way.

Thanks and regards,
Karen
ATEB President