EU backs 800 million euro Greek scheme to help tourism industry through pandemic

FILE PHOTO: EU Competition Commissioner Vestager holds a news conference in Brussels

(Reuters) – The European Commission has approved an 800 million euro scheme by Greece, designed to support tourism companies which have been heavily affected by the COVID-19 outbreak.

“They (the companies) have been hit hard by the pandemic, and this scheme will help ensure the continuity of their economic activity in these difficult times,” Commissioner Margrethe Vestager, who is in charge of the European Union’s competition policy, said in a statement on Tuesday.

The scheme will be open to companies of all sizes that experienced a decline in turnover of more than 30% in 2020, compared to 2019, the Commission said.

(Reporting by Sabine Siebold)