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 17 nov 2020 06:44 

Corona: 5 million Lithuanian scheme to support companies active in the fur farming sector


The European Commission has approved a 5 million Lithuanian scheme to support companies active in the fur farming sector that are affected by the coronavirus outbreak.

 

The scheme was approved under the State aid Temporary Framework. The aid will take the form of direct grants. The purpose of the scheme is to address the liquidity needs of companies active in the fur farming sector, as fur-trading auctions are closed and all production is stored in farms. The scheme will also help them to continue their activities during and after the outbreak. The scheme is expected to benefit approximately 150 companies. The Commission found that the Lithuanian scheme is in line with the conditions set out in the Temporary Framework. In particular, (i) the aid will not exceed €100,000 per beneficiary as provided by the Temporary Framework for companies active in the primary production of agricultural products and (ii) the aid under the scheme can be granted until 30 June2021. The Commission concluded that the measure 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 set out in 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.59345 in the State aid register on the Commission's competition website once any confidentiality issues have been resolved.



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