Green light from the European Commission to state aid from Italy of 520 million euros to compensate companies active in the exhibition and congress sector and their service providers for the damage suffered as a result of the pandemic. This was announced by the EU Commission in a note.
“Under the scheme – continues the note – eligible beneficiaries will be entitled to compensation in the form of direct grants for part of the damage suffered between March 9 and June 14, 2020 and between October 24, 2020 and June 14, 2021, periods during which, under the restrictive measures in force, the organization of such events was not allowed. The Italian authorities will verify that no overcompensation will occur by fixing the damage on the basis of the net losses suffered by each beneficiary as a result of the pandemic, ensuring that no single beneficiary receives compensation more than what it has suffered as damage and that any overpaying the damage effective is recovered “.
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Executive Vice President Margrethe Vestager, head of competition policy, said: “The measures that the Italian government had to take to limit the spread of the coronavirus pandemic forced trade fairs and congress operators to cease their activities, resulting in losses considerable for them, as well as for their service providers. This 520 million euro scheme will allow Italy to compensate these companies for the damage suffered. We continue to work in close collaboration with Member States to find viable solutions to mitigate the economic impact of the coronavirus epidemic, in line with EU rules “.