Connect with us

Austria

Nearly €300 million in EU aid after #2018Floods in #Austria, #Italy, #Romania

Published

on

The €293.5 million in aid from the European Union Solidarity Fund (EUSF) breaks down as follows: €277.2 million for Italy following heavy rains, strong winds, floods and landslides in the autumn of 2018, €8.1 million for Austria following the same meteorological events and €8.2 million for the North East region in Romania after the summer 2018 floods. This was adopted by 35 votes in favour, one against and three abstentions.

More information here (Commission proposal) and in the EP draft report by rapporteur Siegfried Muresan, (EPP, RO), who recommended approving the EUSF assistance.

MEPs boost support for EU research and Erasmus

MEPs also approved, by 31 votes in favour, 7 against and one abstention, a €100 million boost to the EU’s flagship programmes Horizon 2020 (€80 million for research funding) and Erasmus+ (€20 million for youth mobility) as decided by the European Parliament and the Council in their agreement on the 2019 EU budget in December 2018.

In another vote, the members of the Committee on Budgets agreed by 32 votes in favour, 4 against and one abstention to return a €1.8 billion budget reflow from 2018 to the EU member states, through a decrease in the countries’ contributions to the EU budget. This is an annual exercise, the surplus usually stemming from default interest and fines received by the Commission, as well as under-implementation of EU programmes.

Next steps

All draft reports still need to be approved by Parliament as a whole, during the 16-19 September plenary session in Strasbourg, and by the Council of Ministers.

More information

Austria

Commission approves modified Austrian liquidity assistance scheme to support companies affected by the coronavirus outbreak

Published

on

The European Commission has found certain amendments to a previously approved Austrian liquidity assistance scheme to support Austrian enterprises affected by the coronavirus outbreak to be in line with the State Aid Temporary Framework. The original scheme was approved on 8 April 2020 under case number SA.56840, and provides for temporary limited amounts of aid in the form of (i) direct grants, (ii) guarantees on loans and repayable advances, and (iii) guarantees on loans and subsidized interest rates on loans.

The aim of the original scheme was to enable enterprises affected by the coronavirus outbreak to cover their short-term liabilities, despite the current loss of revenues caused by the pandemic. Austria notified certain modifications to the original scheme, in particular: (i)micro or small enterprises can now benefit from the measure even if they were considered in difficulty on 31 December 2019, under certain conditions; and (ii)an increase of €4 billion in the total budget of the scheme, from €15bn to €19bn.

The Commission concluded that the scheme, as modified, remains 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.58640 in the state aid register on the Commission's competition website once any confidentiality issues have been resolved.

Continue Reading

Austria

Commission approves €120 million Austrian scheme to support companies in #LowerAustria affected by #Coronavirus outbreak

Published

on

The Commission has approved a €120 million Austrian scheme to support companies in Lower Austria affected by the coronavirus outbreak. The scheme was approved under the Temporary Framework. Under the scheme, public support will be provided in  the form of direct grants, guarantees and subordinated loans with subsidized interest rates. The measure is open to companies of all sizes active in all sectors, except the financial, agriculture, fishery and aquaculture sectors.

The aim of the measure is to facilitate access to external financing by the beneficiaries and to mitigate the sudden liquidity shortages they are facing as a result of the coronavirus outbreak. The Commission found that the scheme is in line with the conditions set out in the Temporary Framework. In particular, (i) with respect to the direct grants, aid will not exceed €800 000 per company as provided by the Temporary Framework; and (ii) guarantees and subordinated loans under the measure fulfil the minimum levels for guarantee premiums and credit risk margins.

The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state and to fight the health crisis, in line with Article 107(3)(b) TFEU and with the conditions set out in the Temporary Framework. On this basis, the Commission has 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.58360 in the state aid public case register on the Commission's competition website once any confidentiality issues have been resolved.

Continue Reading

Austria

#InvestmentPlan supports one of largest wind farms in Austria

Published

on

The European Investment Bank (EIB) and UniCredit Austria are investing €107.4 million to support the financing of one of Austria's largest wind farms. The entire wind farm will have a capacity of 143 MW and provide around 90,000 households with electricity produced from renewable sources. The project is expected to reach completion at the end of 2021.

The financing is supported by the European Fund for Strategic Investments, the main pillar of the Investment Plan for Europe. Economy Commissioner Paolo Gentiloni said: “Today the European Union confirms its commitment to supporting renewable energy in Austria and to helping the country to meet its decarbonization targets. This financing under the Investment Plan for Europe will lead to the construction of a 143 megawatt wind farm, which will bring clean energy to around 90,000 households in the state of Burgenland. Through projects like this, we will reach the goals of the European Green Deal and achieve climate neutrality by 2050”.

The projects and agreements approved for financing under the Investment Plan so far have mobilized around €524 billion in investment, of which around €84bn for energy-related projects. The press release is available here.

Continue Reading
Advertisement

Facebook

Twitter

Trending