Economy

EC Approves Slovak State Aid Scheme for Sports Clubs During Pandemic

Brussels, August 9 (TASR-correspondent) – The European Commission (EC) announced on Monday that it’s approved a Slovak state aid scheme worth €10 million to support professional sports clubs hit by the coronavirus pandemic.

The scheme has been approved under the State Aid Temporary Framework presented by the European Commission last spring.

The support will take the form of direct grants and will be available for eligible clubs that have posted a significant drop in revenues as a result of the coronavirus pandemic and government measures related to it.

The scheme’s aim is to address the liquidity needs of sports clubs and to help them continue their activities during and after the pandemic.

The Commission found that the Slovak scheme was in line with provisions stipulated in the Temporary Framework, as the provided support won’t exceed €1.8 million per recipient and will be allocated by December 31, 2021 at the latest.

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