EU backs 800 mln euro Greek scheme to help tourism industry through pandemic
Sand hills are formed in front of a hotel, in order to be spread on the beach at the beginning of the tourist season, at Ammoudes Beach, amid the coronavirus disease pandemic, on the island of Rhodes, April 12. [Reuters]
The European Commission has approved an 800 million euro scheme by Greece, designed to support tourism companies which have been heavily affected by the Covid-19 outbreak.
“They [the companies] have been hit hard by the pandemic, and this scheme will help ensure the continuity of their economic activity in these difficult times,” Commissioner Margrethe Vestager, who is in charge of the European Union’s competition policy, said in a statement on Tuesday.
The scheme will be open to companies of all sizes that experienced a decline in turnover of more than 30% in 2020, compared to 2019, the Commission said. [Reuters]
