EU approves 50 billion euro Belgian state aid for coronavirus-hit firms

BRUSSELS (Reuters) - 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

Reuters April 12, 2020 13:57:16 IST
EU approves 50 billion euro Belgian state aid for coronavirus-hit firms

Brussels: 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.

EU approves 50 billion euro Belgian state aid for <span class=coronavirus hit firms" width="380" height="285" />

Representational image. Reuters

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.

Updated Date:

TAGS:

also read

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes
India

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes

The Pulitzer prize winner, who was in Kandahar covering operations against Taliban, was killed when he was riding along with the Afghan Special Forces

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province
India

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province

Siddiqui had also covered the 2020 Delhi riots, COVID-19 pandemic, Nepal earthquake in 2015 and the protests in Hong Kong

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth
India

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth

Danish's photographs were not just documentation, but the work of someone who went down to eye-level, as they say in photographic parlance.