RIGA - The European Commission on Wednesday approved Latvia's scheme to support companies active in the country’s cultural sector that have been affected by the coronavirus outbreak, the Commission's Representation in Latvia informed LETA.
The measure was approved under the State aid Temporary Framework.
The aim of the scheme is to mitigate the sudden liquidity shortages that these companies are facing due to the restrictive measures implemented by the Latvian government to limit the spread of the virus.
The support will be provided as the form of direct grants.
The measure is open to companies active in the country’s cultural sector. Beneficiaries include businesses active in arts and entertainment, libraries and museums. The support will serve to cover paid expenses for the period from January 1, 2021 till June 30, 2021. It will cover monthly payments, including for the lease of premises, public utilities, and communication and IT services. It may also serve to cover salaries and related taxes for the employees.
The Commission found that the Latvian scheme is in line with the conditions set out in the Temporary Framework.
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