Skip to content
Magazine
Saturday, August 2, 2025
SUBSCRIBE
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
SUBSCRIBE

EC approves Austria’s aid scheme worth €110mn

Shiva Singh by Shiva Singh
8 August 2022
in European Commission News
Frankfurt,,Hesse,,Germany,-,May,16,,2018:,Sign,At,The

Frankfurt, Hesse, Germany - May 16, 2018: Sign at the entrance to new European Central Bank headquarters in Frankfurt, Germany - the ECB is the central bank for the euro

Belgium, (Brussels Morning Newspaper) The European Commission approved Austria’s aid scheme worth 110 million euro aimed at supporting agricultural producers.

The EC pointed out in a statement on Friday that it approved the aid under the Temporary Crisis Framework, stressing that the EU economy is facing severe disturbances.

Margrethe Vestager, European Commissioner for Competition, noted “the agricultural sector has been hit particularly hard by the price increase of energy and other input costs caused by Russia’s invasion of Ukraine and the related sanctions.”

She pointed out that the money will help Austria to support its farmers and stressed that it is making sure that aid measures do not affect competition on the EU market.

Austria’s scheme will provide support to companies in the sector of agriculture that have been hit by rising prices of energy and raw materials, the EC noted.

“Under this scheme, the eligible beneficiaries will be entitled to receive limited amounts of aid in the form of direct grants,” the Commission pointed out and added “aid amount per beneficiary will be calculated on the basis of the number of hectares of agricultural land.”

Plan in line with EU rules

The body noted that Austria’s plan is in line with Temporary Crisis Framework rules as aid will not exceed 62,000 euro per beneficiary and will be provided by the end of the year.

It added that the proposed aid plan is appropriate, proportionate and necessary to address economic disturbances.

The body pointed out that, according to EU rules, member states can provide aid to companies to partially compensate them for exceptional growth of natural gas and electricity prices.

It added that bloc members may provide aid of up to 25 million euro to large energy consumers and up to 50 million to companies in severely affected sectors.

Under the framework, EU member states can support investments in the green push and diversification of energy supply, the Commission reminded.

The EC pointed out that Russian-controlled entities are not eligible for aid.

It noted that the Temporary Crisis Framework will remain in place until the end of the year and concluded that it will assess a possible extension at a later stage.

Related News:

  • EC announces LIFE environmental projects worth 110mn euro
  • EC approves Polish aid scheme worth €10bn
  • EC approves Romania’s aid scheme worth €500mn
  • EC approves French aid scheme worth up to €1.4bn
Tags: aid schemeNews
Next Post

Renowned Brussels architect Lucien Kroll passed away

Latest post

EU-elections-UK

EU elections: UK looks on from the “outside”

1 year ago
Galeries-Royales-Saint-Hubert

What Makes Galeries Royales Saint-Hubert an “Institution”?

1 year ago

Most Read

    Follow Brussels Morning
    Facebook Twitter Youtube Linkedin

    Browse Important News

    Belgium News
    Brussels News
    Culture and Society News
    Economy News
    EU Institutions News
    European Commission News
    European Council News
    European Parliament News
    Europe News
    Health And Fitness News
    Southeast Europe News
    Sustainable Perspective
    World News
    Diplomacy News
    US Elections News

    About Us

    Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

    More Info

    • About Us
    • Advertise With Us
    • Contact Us
    • Cookies Policy

    Join Our Newsletter

    Brussels Morning Newspaper – All Rights Reserved © 2024

    No Result
    View All Result
    • Home
    • About Us
    • Belgium News
      • Belgium Police News
      • Brussels News
    • Brussels Bubble
      • European Parliament News
      • European Commission News
      • European Council News
    • Wider Europe
      • Member States
    • World News
    • Business & Society
    • Europe With Transparency
    • Culture & Society
    • Policy Talks
      • Place de la Bourse
      • The Macro-Economist
      • Sustainable Perspective
      • Ambassador’s Corner
      • The American Angle
      • Southeast Europe
    • Print Magazine

    Brussels Morning Newspaper - All Rights Reserved © 2020

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    Cookie settingsACCEPT
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT