| Author (Corporate) | European Commission |
|---|---|
| Series Details | C (2020) 4509 |
| Publication Date | 29/06/2020 |
| Content Type | Policy-making |
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Summary: Communication published by the European Commission on 29 June 2020, setting out a number of amendments to the Temporary Framework for State Aid implemented in light of the COVID-19 (coronavirus) pandemic. Further information: The Commission adopted a Temporary Framework for State aid measures during the pandemic on 19 March 2020, followed by amendments on 3 April and 8 May. The third amendment's main purpose is to provide targeted support to otherwise viable companies that have entered into financial difficulty as a result of the coronavirus outbreak. It extends the Temporary Framework to enable Member States to provide public support to all micro and small companies, even if they were already in financial difficulty in the past year. Moreover, the Commission also adapted the conditions for recapitalisation measures for those cases where private investors contribute to the capital increase of companies together with the State. Finally, this Amendment also clarifies that aid should not be conditioned on the relocation of the production activity or of another activity to the Member State granting the aid. |
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| Source Link | Link to Main Source https://ec.europa.eu/competition/state_aid/what_is_new/sa_covid19_3rd_amendment_temporary_framework_en.pdf |
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| Subject Categories | Internal Markets |
| Subject Tags | Competition Law | Policy |
| Keywords | COVID-19 (Coronavirus), State Aid |
| International Organisations | European Union [EU] |
