The Investment Aid for COVID Products supports projects that increase/ initiate/diversify production to be able to produce COVID-19 related products.
Malta Enterprise has launched a scheme entitled ‘Investment Aid for COVID Products’. The aid supports undertakings to carry out investment projects to increase or initiate production of COVID-19 relevant products or to diversify existing production to be able to produce such products.
The aid is mainly in the form of cash grant not exceeding 80% of the eligible costs related to COVID-19 related products that are completed within 6 months from the start of works. Eligible costs must be incurred after 1 February 2020 and must fall within the following categories:
The aid may be increased by an additional 15% if the project is completed within 2 months for the aid being approved or the project is carried out in collaboration with another undertaking established in another Member State which is also receiving support from that Member State.
Applications are open. The scheme is available till 31 December 2020.
Further details can be found in the scheme’s Guidelines.
This measure has been approved by the European Commission on 12 May under the Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak, as amended to date.
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