European Temporary Short Term Export Credit Aid Extended to Year End

(Lexology, London, 31 May 2022) On 19 March 2020, the European Commission adopted the Temporary Framework on State aid measures to support the economy in the current context of the COVID-19 outbreak. This included, amongst other forms of aid such as grants, advances, tax concessions, loans, etc., aid in the form of short-term export credit insurance... In just over two years after the Temporary Framework's entry into force, the Commission will have enabled Member States to provide rapid and flexible support to companies affected by the COVID-19 crisis. The Commission has in fact adopted more than 1,300 decisions in the context of the coronavirus pandemic, authorising almost 950 national measures for a total amount of State aid estimated at almost EUR 3,200 billion.