The European Commission has approved an approximately €22 million (US$25.78 million) Czech aid scheme to support companies active in the organization of fairs, exhibitions, conferences, and business events, which have been severely affected in the context of the coronavirus outbreak.
The aim of the scheme is to mitigate the economic difficulties and the liquidity shortages that the beneficiaries are facing as a result of the suspension or reduction of their business activity due to the outbreak and the related measures to limit the spread of the virus.
The public support will take the form of direct grants compensating the beneficiaries for the uncovered fixed costs incurred by during the period from March to October 2020.
Eligible companies must have sustained a turnover decline of at least 30% in that period, compared to before the coronavirus outbreak.
The companies will be entitled to receive support amounting to 60% of their fixed costs if they are privately owned, or to 40% of their fixed costs if they are owned by the state or a municipality.
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