EU Approves $50B Belgian State Aid For Coronavirus-Hit Firms

The European Commission, in charge of EU State aid rules, approved on Saturday a €50 billion Belgian loan guarantee scheme that aims to support companies during the coronavirus pandemic.

The support, in the form of state guarantees on new short-term loans, will be accessible to all companies, including small and medium-sized enterprises (SMEs) and self-employed traders.

The scheme aims to help businesses affected by the current crisis cover their liquidity needs and stay afloat.

“It will help … businesses cover their immediate needs and continue their activities during and after the outbreak,” Commission Executive Vice-President Margrethe Vestager, in charge of competition policy, said.

The European Commission, in charge of EU State aid rules, approved on Saturday a €50 billion euro Belgian loan guarantee scheme that aims to support companies during the coronavirus pandemic.

The support, in the form of state guarantees on new short-term loans, will be accessible to all companies, including small and medium-sized enterprises (SMEs) and self-employed traders.

The scheme aims to help businesses affected by the current crisis cover their liquidity needs and stay afloat.

“It will help … businesses cover their immediate needs and continue their activities during and after the outbreak,” Commission Executive Vice-President Margrethe Vestager, in charge of competition policy, said.

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