The European Commission on Tuesday approved a 14-million-euro support program put forward the Greek government for companies in the arts and entertainment sectors affected by the coronavirus pandemic.
Concerning mostly theaters and other cultural venues, the financial support will take the form of direct grants to cover revenue losses from plummeting ticket sales, due to closures and restrictive measures taken by the Greek government to contain the virus.
The support scheme will apply to companies that experienced a minimum decline of 20 percent in turnover from March to September 2020, compared to the same period in 2019.
The Commission found that the Greek aid program is in line with the conditions set out in the EU’s State Aid Temporary Framework, that support will not exceed 1.8 million euros per company and that the aid will be granted no later than December 31, 2021. [ANA-MPA]