27 May 2020 1 minute read
As we have previously reported, the European Commission (Commission) has adopted a Temporary State aid Framework (the Temporary Framework) to support the economy in the Covid-19 outbreak (see our previous post for more details). The Commission has already shown its willingness to adapt the Temporary Framework as the situation develops and published a second amendment to Temporary Framework on 8 May 2020.
This new amendment expands the Temporary Framework and covers support in the form of recapitalisations and subordinated loans. You can read our alert on the subject here.
Overall, the Commission has approved over EUR1.9 trillion of aid under the Temporary Framework so far, in almost 150 separate decisions. More measures are being approved on a daily basis. We are closely tracking these – for more information see our regularly updated overview of the decisions adopted by the Commission – and will communicate any further amendments/extensions to the Temporary Framework as the situation develops. Please get in touch with Yvo de Vries if you would like to discuss this further.
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