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Economy

EU Commission Approves Greek Aid for Cultural Venues Totalling €14M

BRUSSELS — The European Commission on Tuesday approved a 14-million-euro Greek support program for companies in the arts and entertainment sectors affected by the coronavirus pandemic.

Concerning mostly those managing theatres and other cultural venues, the financial support will take the form of direct grants to cover revenue loss from ticket sales, due to closures and restrictive measures taken by the Greek government to limit the virus' spread.

The support scheme will be open to companies that experienced a minimum decline of 20 pct in turnover from March to September 2020, compared to the same period in 2019.

The Commission found that the Greek aid program is in line with the conditions set out in the EU's State Aid Temporary Framework, that support will not exceed 1.8 million euros per company, and the aid will be granted no later than December 31, 2021.

 (ANA-MPA/E.Zarkadoula) –

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