欧盟委员会批准德国基金，为受＃冠状病毒爆发影响的企业提供高达500亿欧元的流动资金和资本支持

The European Commission has approved German plans to set up a fund ('Wirtschaftsstabilisierungsfonds') with a budget of up to €500 billion for providing guarantees and investing through debt and equity instruments in enterprises affected by the coronavirus outbreak.欧盟委员会已经批准了德国计划设立高达XNUMX亿欧元预算的基金（“ Wirtschaftsstabilisierungsfonds”），用于为受冠状病毒爆发影响的企业提供担保和通过债务和股权工具进行投资。 The scheme was approved under the state aid该计划在国家援助下获得批准 临时框架。 Under the scheme, the support will take the form of (I) guarantees (that are expected to mobilize €400bn of the total amount), as well as (II) subsidized debt instruments in form of subordinated loans, and (III) recapitalization instruments (in total up to €100bn), in particular equity instruments (acquisition of newly issued ordinary and preferred shares or other forms of shareholding) and hybrid capital instruments (namely convertible bonds and silent participations).根据该计划，支持将采取（I）担保（预计将动员总金额XNUMX亿欧元）以及（II）次级债券形式的补贴债务工具和（III）资本重组工具的形式。 （总计不超过XNUMX亿欧元），特别是股权工具（收购新发行的普通股和优先股或其他形式的股权）和混合资本工具（即可转换债券和无声参与）。

The Commission found that the scheme notified by Germany is in line with the conditions set out in the Temporary Framework.委员会发现德国通报的计划符合《临时框架》规定的条件。 The Commission concluded that the German measure will contribute to managing the economic impact of the coronavirus outbreak in Germany.委员会得出结论，德国的措施将有助于管理德国冠状病毒爆发的经济影响。 Furthermore, it is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework.此外，根据TFEU第XNUMX条第XNUMX款第XNUMX项和《临时框架》中规定的条件，有必要，适当和适当地纠正成员国经济的严重动荡。

On this basis, the Commission approved the measures under EU state aid rules.在此基础上，委员会批准了根据欧盟国家援助规则采取的措施。 In addition to the €500bn approved by the Commission, the fund can raise up to €100bn to refinance state aid measures that were already notified to and approved by the Commission, bringing the total budget of the Wirtschaftsstabilisierungsfonds to €600bn.除了委员会批准的XNUMX亿欧元之外，该基金还可以筹集至多XNUMX亿欧元，以资助已经通知委员会并已获委员会批准的国家援助措施，从而使Wirtschaftsstabilisierungsfonds的总预算达到XNUMX亿欧元。

Executive Vice President Margrethe Vestager, in charge of competition policy, said: “In these difficult times, we continue to work in close cooperation with member states to find workable solutions to facilitate the access to finance of companies affected by the coronavirus outbreak, in line with EU rules.负责竞争政策的执行副总裁玛格丽特·韦斯特格（Margrethe Vestager）表示：“在这些困难时期，我们继续与成员国紧密合作，寻找可行的解决方案，以便利受到冠状病毒爆发影响的公司获得融资。符合欧盟规则。 The German fund aims to unlock €500bn of liquidity and capital support.这家德国基金旨在释放XNUMX亿欧元的流动性和资本支持。 The scheme ensures that the state is sufficiently remunerated for the risk taxpayers assume, and, as regards recapitalization measures, that there are incentives for the state to exit as soon as possible, and that the support comes with adequate conditions, including a ban on dividends, bonus payments as well as further measures to limit distortions of competition.”该计划确保为国家提供足够的报酬，以应付纳税人承担的风险，并且在资本重组措施方面，有鼓励国家尽快退出的动机，并且该支持带有适当条件，包括禁止股息，奖金支付以及限制竞争扭曲的进一步措施。”

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