Belgium, (Brussels Morning Newspaper) The European Commission approved Italy’s aid scheme worth 700 million euro to support businesses.
The EC noted in a statement on Wednesday that the aid is approved under the Temporary Crisis Framework adopted earlier this year.
Margrethe Vestager, European Commissioner for Competition, pointed out that the scheme “will ensure that sufficient liquidity remains available to companies affected by the current geopolitical crisis and the related sanctions, allowing them to continue their economic activity in this difficult context.”
She stressed that the EC continues to stand with Ukraine and cooperate with bloc members to help them implement aid measures to protect companies while preventing disturbances to competition.
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