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Commission approves €9 billion Italian 'umbrella' scheme

Christian Fernsby ▼ | May 22, 2020
The European Commission has approved a €9 billion Italian umbrella scheme to support the Italian economy in the context of the coronavirus outbreak.
Italy street
Commission   Italy street
This scheme aims at supporting companies that face difficulties due to loss of income and liquidity shortages resulting from the economic impact of the coronavirus outbreak.

Topics: Italian

In particular, it will help businesses cover immediate working capital or investment needs.

This scheme will also support and promote research and production of coronavirus-related products and will help employees to avoid lay-offs in these difficult times.