State aid: Commission approves €7.7 million Greek scheme to support cultural activities in the Municipality of Athens in context of coronavirus outbreak | EU Commission Press

The European Commission has approved a €7.7 million Greek scheme to support micro and small companies active in the cultural sector in the Municipality of Athens in the context of the coronavirus outbreak. The measure was approved under the State aid Temporary Framework. The public support will take the form of direct grants and it will be co-financed by the European Regional Development Fund. A list of costs incurred by these companies in 2019 will be taken as a reference point to calculate the aid amount per undertaking, which may be between €10 000 and €200 000. The purpose of the measure is to mitigate the sudden liquidity shortages that these companies are facing due to the measures that the Greek government had to impose to limit the spread of the virus and to ensure continuity of their economic activity. The measure will help companies organise cultural events that promote the cultural assets of the city of Athens. The Commission found that the Greek measure is in line with the conditions set out in the Temporary Framework. In particular, the support (i) will not exceed €800,000 per company as provided by the Temporary Framework; and (ii) will be granted no later than 30 June 2021. The Commission concluded that the scheme is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions of the Temporary Framework. On this basis, the Commission approved the measure under EU State aid rules. More information on the Temporary Framework and other actions taken by the Commission to address the economic impact of the coronavirus pandemic can be found here. The non-confidential version of the decision will be made available under the case number SA.59033 in the State aid register on the Commission’s competition website once any confidentiality issues have been resolved.