EU State Aid Temporary Framework for COVID-19 - Fourth Amendment

The fourth amendment extends and modifies the framework to support companies affected by COVID-19.

On 13 October 2020, the European Commission (Commission) published a fourth amendment to the Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak (Temporary Framework).

The fourth amendment:

..Extends the availability of measures set out in the Temporary Framework

..Adds a new instrument allowing governments to provide support for uncovered fixed costs of companies that have suffered from the suspension or reduction of their business activities

..Modifies rules for Member State exit from recapitalisation measures

..Extends the temporal removal of all countries from the list of “marketable risk” countries under the Short-term export-credit insurance Communication (STEC).

Please see full Alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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