EU Approves €130m Support Scheme for Greek Covid-hit Small Enterprises

The European Commission on Wednesday approved a 130-million-euro Greek scheme to support micro and small enterprises affected by the coronavirus (Covid-19) pandemic and the restrictive measures that the government in Greece had to implement to limit the spread of the virus.

The scheme was approved under the State Aid Temporary Framework.

The measure will be open to companies active in all sectors (except the financial and the primary agricultural production ones), which experienced business disruption in April 2021 due to the coronavirus pandemic. Under the scheme, the aid will take the form of direct grants and will consist of a fixed amount of minimum 500 euros and maximum 4,000 euros, depending on the number of employees and the region of location.

According to the Commission, the Greek measure is in line with the conditions set out in the Temporary Framework. In particular, the aid will not exceed 270,000 euros per company active in the fishery and aquaculture sector and 1.8 million euros per company active in all other sectors. The aid will be granted no later than 31 December 2021.

“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 measure under EU State aid rules,” an announcement by the Commission said.