EU Approves 2 Billion Euro Aid to Support the Greek Economy

Αssociated press

(Yves Herman, Pool Photo via AP, File)

BRUSSELS - The European Commission has approved a 2 billion euro Greek aid scheme to support the Greek economy in the context of the coronavirus outbreak. 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."