EU approves coronavirus state support for Greece

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The European Commission has approved a €2 billion Greek aid scheme to help soften the economic impact of the coronavirus pandemic.

The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.

Executive Vice-President Margrethe Vestager, in charge of competition policy, said: "This Greek scheme of 2 billion euros we approved today enables the granting of guarantees on working capital loans to help Greek businesses cover immediate working capital needs and continue their activities in these difficult times. We continue working closely with Member States to ensure that national support measures can be put in place in a coordinated and effective way, in line with EU rules."

The commission also approved a €13 billion state aid program for the Portuguese economy and a €22 billion plan of state guarantees for Poland.