(Finance) – The go-ahead for the European Commission to the Italian program worth 10 million euros to support companies that manage separate collection and recycling plants for aluminum waste. The support scheme was approved under the Temporary state aid frameworkadopted by the Commission in the context of the Covid-19 pandemic.
The aid will take the form of direct grants from the state. In detail, the amount of aid per beneficiary will be calculated on the basis of its decrease in turnover in 2020, compared to 2019, up to 20% of this value and within a ceiling of 200 thousand euros. The measure will be accessible to companies of all sizes that operate separate collection and recycling facilities for aluminum waste, and which have continued to operate despite the decline in demand for recycled material due to the pandemic.
The program aims to meet the liquidity needs of these companies and help them continue their business during and after the pandemic crisis. The Commission found that the Italian aid scheme is in line with the conditions set out in the Temporary Framework as the aid will not exceed € 2.3 million per company, and will be granted by 30 June 2022.
There Commission concluded that “the measure is necessary, adequate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107 (3) (b) of the Treaty on the Functioning of the EU, and with the conditions established in the Temporary Framework “.