STATE AID: COMMISSION APPROVES €202 MILLION CROATIAN SCHEME TO SUPPORT COMPANIES IN THE TOURISM AND SPORTS SECTORS IN THE CONTEXT OF CORONAVIRUS OUTBREAK
Published on: 11-01-2021
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The European Commission has approved an approximately €202 million (HRK 1.525 billion) Croatian State aid scheme to support companies of all sizes active in the sports and tourism sectors (and in directly related ones, such as accommodations, restaurants) and , affected by the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework.
The main purpose of the measure is to assist eligible companies in gaining access to liquidity and to preserve the continuity of their economic activity. The aid will be granted in the form of (i) guarantees on new working capital and investment loans; and (ii) subsidised interest rates for new loans. The total budget of the scheme is €202 million (HRK 1.525 billion).
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