The EFTA Surveillance Authority approves amendments and prolongations to Icelandic business-support schemes

COVID-19 pandemic: ESA approves amendments and prolongations to Icelandic business-support schemes*

The EFTA Surveillance Authority (ESA) has today approved amendments and prolongations to the closure grants and resilience grants schemes providing support to companies suffering income losses as a result of the ongoing COVID-19 pandemic.

ESA on 6 November 2020 approved a closure grant scheme that provides aid to companies and self-employed in all sectors that were forced to close or halt operations because of current and possible future containment restrictions.

On 14 December 2020, ESA approved a resilience grants scheme that provides support to companies and self-employed across all sectors that have incurred COVID-19-related losses.

Today’s decision approves an increase of the maximum total aid amount a company or those self-employed may receive under both schemes combined to ISK 260 million (approx. EUR 1 730 000). The eligibility criteria for aid under the resilience grants scheme has now been expanded from the former 60% loss of income threshold to also include enterprises that have experienced a loss of income of 40% to 60%.

Given the continued impact of the pandemic on the economy, both schemes have been prolonged. The closure grants scheme has been prolonged until 30 September 2021 and the resilience grants scheme until 31 December 2021.

*This is the original title of the press release. The title above has been amended in order to match the e-Competitions format. Individual authors are welcome to provide original independent commentaries on the case law. Articles are subject to approval by the Board of e-Competitions Bulletin before publication based on the Editorial Policy (click here).

PDF Version

Author

Quotation

EFTA Surveillance Authority, The EFTA Surveillance Authority approves amendments and prolongations to Icelandic business-support schemes, 10 May 2021, e-Competitions May 2021, Art. N° 100765

Visites 268

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues