The EU Commission approves an Italian scheme worth €10B to support companies in context of Russia’s invasion of Ukraine

State aid: Commission approves €10 billion Italian scheme to support companies in context of Russia's invasion of Ukraine* The European Commission has approved a €10 billion Italian loan guarantee scheme to support companies across sectors in the context of Russia's invasion of Ukraine. The scheme was approved under the State aid Temporary Crisis Framework, adopted by the Commission on 23 March 2022, based on Article 107(3)(b) of the Treaty on the Functioning of the European Union (‘TFEU'), recognising that the EU economy is experiencing a serious disturbance. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “In the current context of economic uncertainty caused by the current geopolitical crisis, this €10 billion loan guarantee scheme will enable,

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European Commission, The EU Commission approves an Italian scheme worth €10B to support companies in context of Russia’s invasion of Ukraine, 19 July 2022, e-Competitions August 2022, Art. N° 107815

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