The platform will be launched immediately to support businesses catering for events, providing drinks, organizing events, culture and education, fitness facilities and other entertainment and leisure activities that had a 2019/2020 turnover reduction of more than -50% due to a pandemic. This was stated by the Minister of Development and Investment in a post on twitter.
Specifically, as the minister wrote today: “Recently, the European Commission approved our request for the Financial Support programs of 8% of the 2019 turnover, of the sectors that had a turnover reduction of 2019/2020 over -50% due to a pandemic.” “The platform is being implemented immediately to strengthen these businesses.”
The relevant press release of the relevant press release issued yesterday by the European Commission delegation in Greece is attached to the relevant post of the minister and states in detail the following:
“The European Commission has approved a € 100 million Greek scheme to support companies affected by the coronavirus pandemic. The scheme was approved under the provisional State Aid Framework. .
The measure is addressed to all companies that started their activities before 31 December 2021 and are active in one of the following sectors, which have been severely affected by the emergency measures taken to limit the spread of the virus: catering events, provision drinks, event organization, culture and education, fitness facilities and other recreational and leisure activities. The purpose of the scheme is to meet the liquidity needs of these companies and help them to continue their activities during and after the pandemic.
To be eligible, companies must: either i) have had their turnover reduced by at least 50% in 2020 compared to 2020, or ii) have no income in 2019, or iii) have started operations in 2020 or 2021. The direct grant will not exceed 8% of the company’s revenue in 2019. For businesses that had no revenue or had no activity in 2019, the direct grant will not exceed 8% of the company’s revenue in an alternative year. In any case, the aid will not exceed the maximum amount of 400,000 euros per company. The aid must be used to cover short-term expenditure incurred between 1 January 2022 and 30 September 2022 and the maximum amount of aid is 70% of that expenditure.
The Commission found that the Greek measure complied with the conditions set out in the provisional framework. In particular, the support: i) will not exceed EUR 2.3 million per company and ii) will be granted before 30 June 2022. The Commission has concluded that the Greek measure is necessary, appropriate and proportionate for the removal of a serious disturbance of the economy of a Member State in accordance with Article 107 (3) (b) TFEU. On this basis, the Commission approved the measures under the EU State Aid Rules … “.
SOURCE: AMPE
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.