The European Commission has approved a Greek plan worth 20 million euros in the context of the coronavirus pandemic to support companies operating in the arts and entertainment sector. The scheme was approved under the Provisional Framework for State Aid.
Under the program, public support will take the form of direct grants to cover part of the loss of ticket revenue suffered by these companies due to restrictions on COVID protection. In particular, the measure will be open to companies that manage theaters, cinemas and other cultural venues, as well as to film distributors who suffered a decrease in turnover in 2020, compared to 2019.
The purpose of the program is to help beneficiaries meet their liquidity needs and to continue their activities during and after the pandemic. The Commission found that the Greek regime complied with the conditions set out in the provisional framework. The aid (i) will not exceed EUR 2.3 million per company and (ii) will be granted by 30 June 2022 at the latest.