The EU Commission approves €226 million Hungarian scheme to support SMEs in context of Russia’s invasion of Ukraine

State aid: Commission approves €226 million Hungarian scheme to support SMEs in context of Russia's invasion of Ukraine* The European Commission has approved a €226 million (HUF 90 billion) Hungarian scheme to support small and medium-sized enterprises (‘SMEs') 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: “This €226 million scheme will enable Hungary to mitigate the economic impact of the war in Ukraine and the

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European Commission, The EU Commission approves €226 million Hungarian scheme to support SMEs in context of Russia’s invasion of Ukraine, 17 June 2022, e-Competitions June 2022, Art. N° 107302

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