How the EU responds to the coronavirus outbreak in support of the cultural and creative sectors
To complement and support the actions taken by Member states in support of cultural and creative sectors, European Commission has taken steps to tackle the economic impact of the novel COVID-19 pandemic on the sectors.
The Temporary Framework for state aid measures: this framework enables Member states to use full flexibility under state aid to support economy.
The Coronavirus Response Investment Initiative: allows Member states to provide liquidity to reorient unspent funds on sectors in need; while the main focus would be healthcare and labour markets, provisions can also be made for education and cultural sectors.
Support to mitigate Unemployment Risks in an Emergency (SURE): This support package will help protect jobs and workers affected by Corona virus.
Protecting small and medium-sized businesses: Immediate relief fund for small to medium businesses.
European Guarantee Fund: European Guarantee Fund of €25 billion that will support up to €200 billion of financing for companies, with a special focus on SMEs.
Creative Europe programme measures: The programmes have been adapted to the current situation to function with maximum flexibility that can be achieved within the limits of the legal framework.