Coronavirus: Amendment to the new temporary framework for state aid

On 3 April, the European Commission made the first  Amendment to the Temporary Framework for state aid measures to support the economy in the current COVID-19 outbreak (“TF19”).  This amendment broadens the scope and object of the temporary framework.

Initially, and as detailed here, TF19 allowed States to design support provided in the form of (i) direct grants, repayable advances or tax advantages, up to EUR 800,000, (ii) guarantees on loans to undertakings, (iii) aid to companies in the form of subsidised interest rates for loans, and (iv) short-term export credit insurance.

This first amendment introduces important clarifications and changes.