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State Aid: Commission approves €350 million guarantee scheme for Malta to support economy

by EMD Advocates Taxation Malta Company
State Aid: Commission approves €350 million guarantee scheme for Malta to support economy during the coronavirus outbreak

The European Commission has approved a State Aid Scheme for Malta with an estimated budget worth €350 million, in order to help support the sectors of the Maltese economy affected by the COVID-19 pandemic. This scheme was approved under the Temporary Framework for State Aid measures to support the economy in the current COVID-19 outbreak.

This Temporary Framework adopted by the Commission allows Member States to use full flexibility foreseen under State aid rules to support the economy during the outbreak of the Coronavirus disease.

The Commission expressed that these measures are necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, which are in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework.




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Created on Apr 7th 2020 03:57. Viewed 148 times.

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