June 23 (SeeNews) - The European Commission (EC) said that it has approved Romania's 3 million lei ($725,165/ 610,000 euro) scheme to support companies active in Bucharest's independent cultural sector affected by the coronavirus outbreak.
The scheme was approved under the state aid temporary framework adopted by the Commission, the EU's executive body said in a press release on Tuesday.
The purpose of the scheme is to alleviate the liquidity needs faced by the beneficiaries due to the restrictive measures that the Romanian government had to implement in order to limit the spread of the coronavirus.
The public support, which will take the form of direct grants, will cover companies' expenses with rent, utilities, salaries and social benefits for employees for the August-December 2020 period, the EC said.
($=0.8412 euro)