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10/13, 12:35 PM (Source: TeleTrader)
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EU extends COVID state relief through June 2021

The European Commission announced on Tuesday it has extended the coronavirus-related state aid for another six months until June 30, 2021.

Commenting on the decision, Executive Vice-President Margrethe Vestager said the Commission prolonged "the Temporary Framework to cater for the continued needs of businesses, while protecting the EU's Single Market," while introducing "new possibilities for the State to exit from recapitalized companies while maintaining its previous stake in those companies and limiting distortions to competition."

The main goal of the State Aid Temporary Framework is to support businesses to overcome the coronavirus crisis.

Breaking the News / ND