EC approves €600-million Slovak state aid scheme

The European Commission (EC) on Tuesday announced that it's approved a €600-million Slovak scheme to support its economy in the context of Russia's war against Ukraine.
The EC specified that the scheme was approved under the State Aid Temporary Crisis Framework, adopted in March and amended in July and October, recognising that the EU economy is experiencing a serious disturbance.
Under this measure, the aid will take the form of direct grants to support companies affected by the severe increases in natural gas and electricity prices.
The measure will be open to all sectors except the financial one.
The Commission found that the Slovak scheme is in line with the conditions set out in the Temporary Crisis Framework. In particular, the individual aid amount will not exceed 50 percent of the eligible costs or the maximum aid ceiling of €4 million. For beneficiaries qualifying as energy-intensive businesses, the overall aid per beneficiary will not exceed 80 percent of the eligible costs or the maximum aid ceiling of €150 million. In addition, the aid will be granted no later than December 31, 2023.
The EC concluded that the Slovak scheme is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state, in line with EU rules on state aid. (TASR)