The EC approved the plans of Germany to allocate 500 billion euros to help companies

The European Commission has announced that it has approved a plan by Germany to create a fund of 500 billion euros to help companies affected by the coronavirus pandemic. It is noted that with the help of this fund, companies will be able to get temporary access to government loans and investments.

The EC stated that it continues to work closely with EU member states in finding solutions to support and finance European companies, subject to all EU rules.

EC Executive Vice President Margret Westagher, who is responsible for competition policy, emphasized that assistance to companies will be determined by the necessary measures that will ensure compliance with competition rules.