Home Stock EU wants to extend looser state aid rules for virus-hit companies to...

EU wants to extend looser state aid rules for virus-hit companies to mid-2022

imageStock Markets15 minutes ago (Sep 30, 2021 06:17AM ET)

(C) Reuters. FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. REUTERS/Yves Herman4

BRUSSELS (Reuters) – The European Commission on Thursday proposed extending looser state aid rules for virus-hit small- and medium-sized companies for a limited period beyond June 2022.

The EU executive, tasked with ensuring a level playing field in the 27-country bloc, said an extension would help EU countries address the investment gap that some companies face due to the COVID-19 pandemic.

It said small and medium-sized enterprises (SMEs) and small mid-caps typically rely on bank loan financing and may be even more indebted after the crisis.

The Commission also proposed extending existing measures approved under the looser state aid rules regime to June next year. A final decision will be taken once EU countries provide feedback to the proposals.

The rules, which make it illegal for EU governments to give some companies an unfair advantage, were loosened in March last year due to the pandemic.

EU wants to extend looser state aid rules for virus-hit companies to mid-2022

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Subscribe here


Must Read