The European Commission has approved Estonia’s EUR 9.9-million aid plan for tourism companies and sectors directly affected by the coronavirus wave.
The plan was approved on the basis of the temporary framework for state aid and the funds would be disbursed in the form of direct payments, according to the European Commission Representation in Estonia.
Eligible for support are accommodation, travel and catering enterprises as well as stores selling craft products, souvenirs or Estonian design products whose revenues have significantly declined as a result of the coronavirus outbreak. The objective of the plan is to help support recipients cover their liquidity needs and continue operations during and after the outbreak.
The Commission concluded that Estonia’s aid plan was in conformity with the terms provided by the temporary framework. (ERR/Business World Magazine)