Greek small businesses are set to receive a financial boost following the approval of a 130 million euro package by the European Commission.
In its statement, the European Commission said that it had approved the 130million euro Greek government program to support micro and small businesses affected by the coronavirus outbreak and the restrictive measures needed to be taken by the government to curb its spread.
The scheme, which was approved under the temporary State Aid Framework, will be
open to companies operating in all sectors (except the sectors of economic and primary agricultural production), which experienced a business shutdown in April 2021 due to the coronavirus outbreak. Under the scheme, the aid will take the form of direct grants and will consist of a fixed amount of at least € 500 and a maximum of € 4,000, depending on the number of staff and the region.
The Commission found that the Greek measures complied with the conditions set out in the provisional framework. In particular, the aid will not exceed EUR 270,000 per company active in the fisheries and aquaculture sector and EUR 1.8 million per company active in all other sectors, and will be granted no later than 31 December 2021.
READ: EU Approves €100 Million To Support Health System In Greece
