The EC has approved a Maltese aid scheme to support investments in the production of COVID-relevant products like vaccines, ventilators and PPE.
The European Commission has approved a Maltese aid scheme, notified thereto, to support investments in the production of products that are relevant to the coronavirus outbreak, including medicines, vaccines, ventilators and personal protective equipment. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April and 8 May 2020.
The scheme will have a total budget of €11.5 million. The support will take the form of direct grants, repayable advances and tax advantages. The scheme is open to all enterprises of all sectors capable of increasing production of coronavirus-relevant products or of diversifying existing production to be able to produce and manufacture such products. The aid will cover a significant share of the investment costs necessary for the creation of new production facilities. Furthermore, under the scheme, investment projects will have to be completed within six months after the date of granting the aid.
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