BRUSSELS (Reuters) – The European Commission, in charge of EU state aid rules, approved on Saturday a 50 billion euro Belgian loan guarantee scheme that aims to support companies during the coronavirus pandemic.
The support, in the form of state guarantees on new short-term loans, will be accessible to all companies, including small and medium-sized enterprises (SMEs) and self-employed traders.
The scheme aims to help businesses affected by the current crisis cover their liquidity needs and stay afloat.
“It will help … businesses cover their immediate needs and continue their activities during and after the outbreak,” Commission Executive Vice-President Margrethe Vestager, in charge of competition policy, said.
(Reporting by Jan Strupczewski; Editing by Frances Kerry)
