August 29 (SeeNews) - The European Commission said on Monday it has approved modifications of two existing Croatian schemes to support companies impacted by Russia's invasion of Ukraine.
Croatia notified to the Commission its intention to increase the maximum thresholds for limited amounts of aid under the existing schemes to 62,000 euro ($62,083) per company active in the agriculture sector; 75,000 euro per company active in fisheries and aquaculture sectors; and 500,000 euro per company active in any other sector, the Commission said in a press release.
The two existing schemes are an up to 500 million euro measure to support companies across sectors that the Commission approved on July 7, and an approximately 414 million euro measure to support the liquidity of exporting companies that the Commission approved on July 4.
The Commission found that the Croatian schemes, as amended, remain necessary, appropriate and proportionate to remedy a serious disturbance in the economy, it noted.
($ = 0.998 euro)