The European Commission has announced it has approved a state aid scheme worth a total of 890 thousand euros for halloumi producers, in the context of dealing with the economic effects of the coronavirus pandemic.
According to a Commission statement, the scheme, approved under the State Aid Temporary Framework, provides for direct grants of up to 200 thousand euro per beneficiary, aiming to mitigate liquidity shortages that the beneficiaries are facing and to address part of the losses they incurred due to the coronavirus pandemic and the restrictive measures imposed, in particular in the catering sector.
The scheme will be open to all companies active in the halloumi cheese production and storage, according to the European Commission.
The Commission found that the Cypriot scheme is in line with the conditions of the Temporary Framework since the will not exceed 2.3 million per beneficiary and will be granted no later than 30 June 2022.
The non-confidential version of the decision will be made available under the case number SA.102885 in the State aid register on the Commission’s competition website once any confidentiality issues have been resolved.
Source: Cyprus News Agency