Sun. Jul 14th, 2024

Brussels, 10 August 2023

The European Commission has approved, under EU State aid rules, a €750 million Austrian measure to support companies in the context of the coronavirus pandemic.

Under the measure, the granted aid takes the form of direct grants to compensate companies for the damages suffered between 16 March 2020 and 31 March 2022 due to the coronavirus pandemic and the restrictive measures imposed by the Austrian authorities to limit the spread of the virus.

The Commission assessed the measure under Article 107(2)(b) TFEU,  which enables the Commission to approve State aid measures granted by Member States to compensate specific companies or sectors for the damages directly caused by exceptional occurrences, such as the coronavirus outbreak.

The Commission found that the Austrian measure provides compensation for damage that is directly linked to the coronavirus pandemic. The Commission also found that the measure is proportionate, as the compensation does not exceed what is necessary to make good the damage.

On this basis, the Commission approved the scheme under EU State aid rules.

More information on actions taken by the Commission to address the economic impact of the coronavirus pandemic can be found here. The non-confidential version of the decision will be made available under the number SA.108173 in the State aid register on the Commission’s competition website once any confidentiality issues have been resolved.

Source – EU Commission

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