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EU approves €698 million to support Italian tourism companies affected by pandemic

Posted : 14 May 2022 11:07:34 | By TWO Bureau | GNN Bureau

EU approves €698 million to support Italian tourism companies affected by pandemic

The European Commission has announced that it has approved an Italian scheme worth €698 million in order to support companies active in the tourism sector which have been affected by the COVID-19 pandemic.


Through a statement issued on May 11 by the EU Commission, Executive Vice President in charge of competition policy Margrethe Vestager stressed that companies active in the sector have seen a significant decline in clients and profits due to the coronavirus outbreak and restrictive measures in force.


“This EUR 698 million Italian scheme will enable Italy to support these companies by helping them meet their liquidity needs and ensuring the continuity of their activities. We continue to work in close cooperation with the Member States to find workable solutions to mitigate the economic impact of the coronavirus pandemic, in line with EU rules,” Vestager noted.




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Tags : #EU, #finncialsupport, #italiantourism #pandemic, #recovery, #support,


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