Briefing
COVID-19 Austria supports businesses with additional €15bn in guarantees/direct subsidies
Three weeks into COVID-19 lock-down, emergency support measures directed at small and medium sized enterprises have been put in place in Austria (including €2bn in export credit support; a guarantee scheme administered by AWS/ÖHT and available to SMEs; and a €2bn hardship fund to support small businesses).On Friday last, the Austrian minister of finance announced details of a €15bn aid fund to provide liquidity support in the form of guaranteed loans and subsidies to companies affected by the COVID-19 crisis. Together with its €9bn guarantee regime, these instruments will form the backbone of the government’s €38bn COVID-19 rescue package for Austria’s economy.
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