COVID-19 Recovery Plan

 State aid rules and coronavirus

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Covid-19: the EU plan for the economic recovery
On 27 May the European Commission presented in Parliament a €750 billion economic stimulus plan that along with a revised proposal for the EU's 2021-2027 budget should help mitigate the shock from the coronavirus pandemic and pave the way for a sustainable future.

Coronavirus Global Response

European Commission revamps its ‘Have Your Say' portal*

European Investment Bank_EIB

Coronavirus outbreak: EIB Group’s response

13/03/2020_COVID-19: Commission sets out European coordinated response to counter the economic impact of the Coronavirus*

20/03/2020_Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak (2020/C 91 I/01)

03/04/2020_State aid: Commission extends Temporary Framework to enable Member States to accelerate research, testing and production of coronavirus relevant products, to protect jobs and to further support the economy in the coronavirus outbreak *

The European Commission has adopted an amendment extending the Temporary Framework adopted on 19 March 2020 to enable Member States to accelerate the research, testing and production of coronavirus relevant products, to protect jobs and to further support the economy in the context of the coronavirus outbreak.The amended Temporary Framework complements the many other possibilities already available to Member States to mitigate the socio-economic impact of the coronavirus outbreak, in line with EU State aid rules.

03/04/2020_Amendment to the Temporary Framework for State aid measures to support the

economy in the current COVID-19 outbreak_C(2020) 2215 final

03/04/2020_State aid: Commission approves €2 billion Greek guarantee measure to support companies affected by the coronavirus outbreak

07/04/2020_State aid: Commission approves €1 billion Greek scheme providing repayable advances to support the economy in the coronavirus outbreak

The European Commission has approved a €1 billion Greek aid scheme to support companies affected by 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.

30/04/2020_State aid: Commission approves modification of Greek guarantee measure to support companies affected by the coronavirus outbreak

The European Commission has approved Greece's modification of a previously approved guarantee scheme to support companies affected by the coronavirus outbreak, extending its scope and increasing its budget to €2.25 billion. The support measures available under the scheme will be co-financed by EU structural funds (ESIF). The existing scheme was initially approved on 3 April 2020 under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.

08/05/2020_State aid: Commission expands Temporary Framework to recapitalisation and subordinated debt measures to further support the economy in the context of the coronavirus outbreak * The European Commission has adopted a second amendment to extend the scope of the State aid Temporary Framework adopted on 19 March 2020 to enable Member States to support the economy in the context of the coronavirus outbreak. This follows a first amendment adopted on 3 April 2020.

27/05/2020_Europe's moment: Repair and prepare for the next generation PRINT
Today, the European Commission has put forward its proposal for a major recovery plan. To ensure the recovery is sustainable, even, inclusive and fair for all Member States, the European Commission is proposing to create a new recovery instrument, Next Generation EU, embedded within a powerful, modern and revamped long-term EU budget. The Commission has also unveiled its adjusted Work Programme for 2020, which will prioritise the actions needed to propel Europe's recovery and resilience.
03/06/2020_EU budget: Commission takes steps to make €11.5 billion available for crisis repair and recovery in 2020 The Commission has today proposed modifications to its budget for 2020 to make €11.5 billion for crisis repair and recovery available already in 2020. Once available, the funds will go to help the regions most in need, support businesses and those in need outside EU borders.

24/06/2020_EU budget 2021: An annual budget focused on European recovery
The Commission has today proposed an EU budget of €166.7 billion for 2021, to be complemented by €211 billion in grants and approximately €133 billion in loans under Next Generation EU, the temporary recovery instrument aimed at mobilising investments and kick-starting the European economy. Together, the annual budget and Next Generation EU will mobilise significant investments in 2021 to address the immediate economic and social damage caused by the coronavirus pandemic, kick-start a sustainable recovery and protect and create jobs. The budget is also fully in line with the commitment to invest in the future in order to achieve a greener, more digital and resilient Europe.
Once adopted, this will be the first budget under the new 2021-2027 multiannual financial framework and the first annual budget proposed by President von der Leyen's Commission.

27/06/2020_Coronavirus Global Response: EIB and Commission pledge additional €4.9 billion
The ‘Global Goal: Unite for our Future'pledging summit organised today by the European Commission and Global Citizen mobilised €6.15 billion in additional funding to help develop and ensure equitable access to coronavirus vaccines, tests and treatments. The money raised will also support economic recovery in the world's most fragile regions and communities.

This amount includes a €4.9 billion pledge by the European Investment Bank, in partnership with the European Commission, and €485 million committed by EU Member States. This brings total pledges under the Coronavirus Global Response pledging marathon, launched by European Commission President Ursula von der Leyen on 4 May, to €15.9 billion.

40 governments took part in the summit and committed to ensuring universal access to coronavirus medicines. They also vowed to help rebuild communities that have been hit hard by the pandemic, in a fair and just way. As a landmark of global solidarity, the summit resulted in commitments for the production capacity of over 250 million vaccine doses for middle and lower income countries.

02/07/2020_Statement by President von der Leyen on reaching a swift and ambitious agreement on the European recovery package

10/07/2020_President Charles Michel presents his proposal for the MFF and the recovery package

13/07/2020_Coronavirus: Cohesion policy support measures for Greece approved in record time
The €1.14 billion of EU Cohesion policy funds (allowing for more than €1.50 billion total investment with the inclusion of the national contribution) will finance actions in favour of the Greek SMEs through the Operational Programme (OP) “Competitiveness, Entrepreneurship and Innovation”. Out of the €1.14 billion available, some €600 million are disbursed in the form of grants, the remaining in the form of reimbursable assistance (financial instruments).
In total, approximately 90,000 enterprises are expected to be supported through these schemes. Greece has very quickly set up a comprehensive framework for crisis response measures and, since April, launched four business support schemes: loan guarantees to businesses through the creation of a Guarantee Fund for working capital loans; interest subsidy of existing SME loans; interest subsidy of new SME working capital loans; repayable advance scheme in the form of grants to SMEs.

20/07/2020_First six months of 2020: Covid-19, investment in recovery, climate
By far the biggest challenge of the past months was the Covid-19 pandemic. The EU responded to the outbreak with immediate emergency measures and with long-term support for the recovery.
Emergency measures against Covid-19
Parliament approved initial measures to mitigate the impact of the crisis at the end of March. The focus of the first weeks was to slow the spread of the virus, provide EU-countries with medical equipment, promote research, boost European solidarity, support the economy, protect jobs and repatriate tens of thousands of Europeans stranded around the world. Hundreds of billions of euros were made available.

24/07/2020_Coronavirus: EIF and European Commission launch new Covid-19 measures supporting micro- and social enterprises under the EUR 400m EaSI Guarantee instrument
The EIF and the European Commission are launching new COVID-19 support measures under the EaSI Guarantee Instrument (EaSI) to enhance access to finance for micro-borrowers, micro- and social enterprises.


15/04/2020_IMF Executive Board Approves Immediate Debt Service Relief for 25 Eligible Low-Income Countries