State aid: Commission approves €1.6 million Italian scheme to support sport associations and entities affected by coronavirus outbreak

The European Commission has approved a €1.6 million Italian scheme to support sport associations and amateur sport entities which have been particularly affected by the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework. The public support, which will be open to all associations and amateur entities registered in Italy, will take the form of 100% free State guarantees on loans with subsidised interest rates. The aim of the scheme is to help the beneficiaries address the liquidity shortages and the difficulties in accessing the credit market they are facing as a result of the coronavirus outbreak. The Commission found that the Italian scheme is in line with the conditions set out in the Temporary Framework. In particular, the aid will not exceed the amount of €800,000 per undertaking as provided by the Temporary Framework and the scheme is limited in time until 31 December 2020. The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework. On this basis, the Commission approved the measure under EU State aid rules. More information on the Temporary Framework and other actions taken by the Commission to address the economic impact of the coronavirus pandemic can be found here. The non-confidential version of the decision will be made available under the case number SA.58208 in the State aid register on the Commission’s competition website once any confidentiality issues have been resolved.