European Commission approves Rent Subsidy and Electricity Bill Schemes
EC approves Rent Subsidy and Electricity Bill Schemes
The EU Commission approved the Maltese Government’s measures to support companies by subsidising part of their rental and electricity costs.
On 16 July, the European Commission approved the Maltese Government’s measures to support companies by subsidising part of their rental and electricity costs. Such has been approved under the State aid Temporary Framework as extended to date. The aim of the measures is to address the liquidity needs of companies affected by the current crisis and to help them to continue their activities, start investments and maintain employment during and after the COVID-19 outbreak.
Such measures have been announced during the presentation by Government of Malta’s Economic Recovery Plan on 8 June. Businesses classified as Annex A and Annex B on Malta Enterprise’s website that have been granted a wage supplement will be entitled for a one-time grant of up to €2,500 covering their rental cost supported by a valid rent agreement. Similarly, eligible businesses will be entitled to a refund of 50% of their electricity bills for the months of July, August and September, capped at €1,500 per applicant. The amount will not include the payment for the meter. On its website, Malta Enterprise provides that further information, guidelines and applications related to both the Rent Refund Scheme and the Electricity Bill Refund will be made available soon.
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