EU approves 60 mln Greek plan to help micro, small and medium-sized businesses

The European Commission on Tuesday approved a 60-million-euro Greek scheme to support micro, small and medium-sized enterprises affected by the coronavirus outbreak.

The scheme is under the state aid Temporary Framework, and open to all sectors except the financial, primary agriculture, fishery and aquaculture ones.

The public support, in the form of direct grants, aims to ensure sufficient working capital for enterprises affected by the coronavirus outbreak.

SMEs qualifying for support must be registered on “Elevate Greece”, the national registry of startups that have begun operations no later than December 31, 2020. Their activity must relate to the sectors aligning with the Research & Innovation Strategy for Smart Specialization Platform (RIS3) of Greece.

Support will be in the form of direct subsidies, which would cover 80 pct of working capital for reference year 2019 or 2020.