A PYMNTS Company

EU Approves €50m For Italian Production Of Medical Equipment During Coronavirus

By  |  March 22, 2020
health

The European Commission has approved a €50 million Italian aid scheme to support the production and supply of medical devices, such as ventilators, and personal protection equipment, such as masks, goggles, gowns, and safety suits. The scheme will help Italy provide the necessary medical treatment to those infected, while protecting healthcare operators and citizens. 

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The scheme was approved under the State aid Temporary Framework to support the economy in the context of the COVID-19 outbreak adopted by the Commission on 19 March 2020. The Commission approved the scheme within 48 hours from receiving the notification from Italy.

    Executive Vice President Margrethe Vestager, in charge of competition policy, said: “These are very difficult times, especially in Italy. We have to do what we can to mitigate the impact of the Coronavirus outbreak on human lives and livelihoods. The Italian scheme approved today, shortly after the adoption of our new State aid Temporary Framework, will support companies ready to produce and supply medical equipment and masks. These are needed urgently. We will continue to work with Member States to ensure timely, coordinated and effective action.”

    Full Content: European Commission

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.