© Reuters. Euro cash are seen in entrance of displayed flag and map of European Union on this image illustration taken in Zenica, Could 28 2015. The president of the European Central Financial institution referred to as on euro zone international locations to reform their economies, warning that future gro
(Reuters) – The European Fee on Thursday authorised a French scheme to supply as much as 155 billion euros ($169 billion) in liquidity assist to corporations hit by the financial affect of the battle in Ukraine.
The scheme is the primary one authorised below the EU disaster framework adopted final month, which briefly eased the EU’s state support guidelines following Russia’s invasion of Ukraine.
“This scheme will allow France to mitigate the financial affect of Putin’s battle in Ukraine and to assist corporations affected by the present disaster, in addition to by the associated sanctions”, European Fee Vice President Margrethe Vestager mentioned in an announcement.
The measure will probably be financed utilizing a part of the 300 billion euro finances France had initially allotted below three French schemes to assist the economic system in mild of the COVID-19 pandemic. They had been initially authorised in March 2021.
Beneath the brand new scheme, beneficiaries will probably be entitled to obtain new loans that will probably be partly coated by a state assure.
($1 = 0.9163 euros)
