The European Commission (EC) said on Tuesday that it has approved €20 million offered by Slovakia in state aid to support domestic companies in the context of Russia's war against Ukraine.
The Commission specifies that it agrees with the Slovak state aid scheme of €20 million to support companies active in the primary production of agricultural products or in the fisheries and aquaculture sector, in the context of Russia's war against Ukraine.
The scheme was approved under the temporary crisis and transitional state aid framework adopted by the European Commission in March 2023 and amended in November 2023.
Under this scheme, the aid will consist of limited amounts paid in direct grants. The measure aims to compensate for part of the increase in production costs for producers in the primary sector of agriculture, fisheries and aquaculture facing a lack of financial liquidity due to the market situation caused by the current geopolitical crisis.
(TASR)
