EU Approves €12M Danish Scheme To Compensate Damages Caused By COVID-19

The European Commission has found a DKK 91 million (US$13.6 million) Danish aid scheme to compensate organizers for the damage suffered due to the cancellation of large events with more than 1,000 participants due to the Covid-19 outbreak to be in line with EU State aid rules.

This is the first and only State aid measure notified by a Member State to the Commission in relation to the COVID-19 outbreak so far. The Commission approved the scheme under EU State aid rules within 24 hours of receiving the notification from Denmark. The Commission stands ready to work with all Member States to ensure that possible national support measures to tackle the outbreak of the Covid-19 virus can be put in place in a timely manner, in line with EU rules. To this end, the Commission has established a dedicated contact point for Member States to provide them with guidance on possibilities under EU rules.

Executive Vice President Margrethe Vestager, in charge of competition policy, said, “With the scheme, Denmark will compensate the organisers of events cancelled due to the Covid-19 outbreak for the losses suffered. This is the first State aid measure notified to us by a Member State in relation to the Covid-19 outbreak. We stand ready to work with all Member States to ensure that possible national support measures to tackle the outbreak of the virus can be put in place as quickly and effectively as possible, in line with EU rules.”

Full Content: Europa

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