EC approves grants for Latvian businesses affected by pandemic

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The European Commission has authorized the working capital grants program for companies affected by the Covid-19 crisis, LETA reported December 15.

The authorization of the support program for wage subsidies is expected in the near future.

The State Revenue Service will start to issue grants to those companies that have applied for them, according to the Ministry of Economics. Minister Jānis Vitenbergs (National Alliance) said that grants will be paid to those companies whose operations were suspended or affected in relation to epidemiological safety restrictions, compensating for the drop in working capital.

Companies, self-employed persons and patent fee payers whose activities have been significantly affected by the Covid-19 restrictions may apply for wage subsidies or working capital grants.

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