The European Commission has announced that it has sent to Member States for consultation a draft proposal for a State aid Temporary Framework to support the economy in the context of the COVID-19 outbreak.
The proposed new Temporary Framework will enable four types of aid: i) direct grants and selective tax advantages, ii) State guarantees for loans taken by companies from banks, iii) subsidised public loans to companies, and iv) safeguards for banks that channel support to the real econom…