Connect with us

News

EU approves Italian aid scheme to support economy in coronavirus outbreak

UN refugee agency halts work at Libya facility

The European Commission says it has approved an Italian aid scheme to support the economy in the context of the coronavirus outbreak.

The scheme, according to the EU, was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.

It said the total budget of the measure communicated by the Italian authorities is of up to €200 billion.

Margrethe Vestager the Executive Vice-President, in charge of competition policy, said: “The Italian guarantee scheme with a budget of up to 200 billion euro will enable public guarantees on new loans and on refinancing of existing loansfor all businesses, including large companies.

Together with the other Italian scheme to support self-employed workers, SMEs and mid-caps affected in the context of the coronavirus outbreak, the scheme will help companies cover their immediate working capital and investment needs in these difficult times.

We continue working closely with Member States to ensure that national support measures can help mitigate the effects of the coronavirus outbreak”

The Italian support measure
Italy notified to the Commission under the Temporary Framework a guarantee scheme for new working capital and investment loans granted by banks, to support companies affected by the coronavirus outbreak. The aid will be granted by State-owned SACE, through financial institutions, to companies affected by the coronavirus outbreak. The aim of the scheme is to limit the risks associated with issuing loans to companies that are severely affected by the economic impact of the coronavirus, helping businesses to cover their immediate working capital or investment needs, in order to ensure the continuation of their activities. The Italian authorities have communicated a total budget of up to €200 billion for the scheme.

The Commission found that the measure is in line with the conditions set out in the Temporary Framework. In particular, (i) the underlying loan amount per company is limited to what is needed to cover its liquidity needs for the near future, (ii) the guarantees will only be provided until the end of this year, (iii) the guarantees are limited to a maximum of six years, and (iv) guarantee fee premiums are in line with the levels foreseen by the Temporary Framework.

READ  Economies, societies are strengthened by migrants’ rich contributions world over- IOM Chief António Vitorino

Global Forum on Migration and Development

The measure also includes safeguards to ensure that the aid is effectively channelled by the financial institutions to the beneficiaries in need.

The Commission concluded that the measure 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.On this basis, the Commission approved the measures under EU State aid rules.

Background
The Commission has adopted a Temporary Framework to enable Member States to use the full flexibility foreseen under State aid rules to support the economy in the context of the coronavirus outbreak.

The Temporary Framework, as amended on 3 April 2020, provides for the following types of aid, which can be granted by Member States:

(i) Direct grants, equity injections, selective tax advantages and advance payments of up to €100,000 to a company active in the primary agricultural sector, €120,000 to a company active in the fishery and aquaculture sector and €800,000 to a company active in all other sectors to address its urgent liquidity needs.

Member States can also give, up to the nominal value of €800,000 per company zero-interest loans or guarantees on loans covering 100% of the risk, except in the primary agriculture sector and in the fishery and aquaculture sector, where the limits of €100,000€ and €120,000 per company respectively, apply.

(ii) State guarantees for loans taken by companies to ensure banks keep providing loans to the customers who need them. These state guarantees can cover up to 90% of risk on loans to help businesses cover immediate working capital and investment needs.

(iii) Subsidised public loans to companies with favourable interest rates to companies. These loans can help businesses cover immediate working capital and investment needs.

(iv) Safeguards for banks that channel State aid to the real economy that such aid is considered as direct aid to the banks’ customers, not to the banks themselves, and gives guidance on how to ensure minimal distortion of competition between banks.

READ  256 men, women, children die in Mediterranean Sea routes as at April 22

(v) Public short-term export credit insurance for all countries, without the need for the Member State in question to demonstrate that the respective country is temporarily “non-marketable”.

(vi) Support for coronavirus related research and development (R&D) to address the current health crisis in the form of direct grants, repayable advances or tax advantages. A bonus may be granted for cross-border cooperation projects between Member States.

(vii) Support for the construction and upscaling of testing facilities to develop and test products (including vaccines, ventilators and protective clothing) useful to tackle the coronavirus outbreak, up to first industrial deployment.

This can take the form of direct grants, tax advantages, repayable advances and no-loss guarantees.

Companies may benefit from a bonus when their investment is supported by more than one Member State and when the investment is concluded within two months after the granting of the aid.

(viii) Support for the production of products relevant to tackle the coronavirus outbreak in the form of direct grants, tax advantages, repayable advances and no-loss guarantees.

Companies may benefit from a bonus when their investment is supported by more than one Member State and when the investment is concluded within two months after the granting of the aid.

(ix) Targeted support in the form of deferral of tax payments and/or suspensions of social security contributions for those sectors, regions or for types of companies that are hit the hardest by the outbreak.

(x) Targeted support in the form of wage subsidies for employees for those companies in sectors or regions that have suffered most from the coronavirus outbreak, and would otherwise have had to lay off personnel.

The Temporary Framework enables Member States to combine all support measures with each other, except for loans and guarantees for the same loan and exceeding the thresholds foreseen by the Temporary Framework.

It also enables Member States to combine all support measures granted under the Temporary Framework with existing possibilities to grant de minimis to a company of up to € 25,000 over three fiscal years for companies active in the primary agricultural sector, €30,000 over three fiscal years for companies active in the fishery and aquaculture sector and €200,000 over three fiscal years for companies active in all other sectors.

READ  COVID 19: Nigeria puts evacuation of citizens on hold

At the same time, Member States have to commit to avoid undue cumulation of support measures for the same companies to limit support to meet their actual needs.

Furthermore, the Temporary Framework complements the many other possibilities already available to Member States to mitigate the socio-economic impact of the coronavirus outbreak, in line with EU State aid rules.

On 13 March 2020, the Commission adopted a Communication on a Coordinated economic response to the COVID-19 outbreak setting out these possibilities. For example, Member States can make generally applicable changes in favour of businesses (e.g. deferring taxes, or subsidising short-time work across all sectors), which fall outside State Aid rules.

They can also grant compensation to companies for damage suffered due to and directly caused by the coronavirus outbreak.
The Temporary Framework will be in place until the end of December 2020. With a view to ensuring legal certainty, the Commission will assess before that date if it needs to be extended.

The non-confidential version of the decision will be made available under the case number SA.56963 in the State aid register on the Commission’s competition website once any confidentiality issues have been resolved. New publications of State aid decisions on the internet and in the Official Journal are listed in the State Aid Weekly e-News.

Support Voice for African Migrants


Support VOICE FOR AFRICAN MIGRANTS journalism of integrity and credibility.

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best and latest migration, trafficking, displacement and humanitarian reports including thorough investigative reports in these areas, we ask you to consider making a modest support to this noble endeavour.

By contributing to VOICE FOR AFRICAN MIGRANTS, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
* are compulsory
cardlogos
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Solve : *
25 + 16 =


News

Human trafficking: PJI  urges proper trauma management for returnees

The Pathfinder Justice Initiative (PJI), a Non-Governmental Organisation, has called for proper trauma care for migrant returnees to prevent them from becoming vulnerable to subsequent trafficking.

Evon Benson-Idahosa, the Executive Director, PJI, made the call at a Rehabilitation Workshop for Providers Serving Survivors of Human Trafficking held in Benin on Thursday.

The workshop was organised by PJI and funded by INSighT- Building Capacity to deal with human trafficking and transit routes to Nigeria, Italy and Sweden.

Benson-Idahosa said that a majority of returnee-migrants usually undergo different traumatic situations and needed to be properly rehabilitated before being integrated back into the society. She noted that if the migrant returnees were not properly rehabilitated, they would not be able to put into good use any form of skills acquisition or empowerment received.

“Providers serving survivors should know how to handle traumatised victims because many of them, especially females, have been raped and have gone through horrible experiences during their trafficking journey.

READ  IOM provides 40,000 surgical gloves, 4,800 surgical masks other equipment to support Coronavirus response in China

“The providers should know that there are best practices in terms of handling trafficked victims; they need to use a survivor centred approach to prioritise the needs of the victims,” she said.

She called on the government at all levels to partner more with NGOs on providing best traumatic care for returned migrants in the country.

Support Voice for African Migrants


Support VOICE FOR AFRICAN MIGRANTS journalism of integrity and credibility.

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best and latest migration, trafficking, displacement and humanitarian reports including thorough investigative reports in these areas, we ask you to consider making a modest support to this noble endeavour.

By contributing to VOICE FOR AFRICAN MIGRANTS, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
* are compulsory
cardlogos
Continue Reading

News

How Nigerian-American police officer burst human trafficking syndicate in US

A retried Nigerian American Police officer, Samuel Balogun  narrated how he  burst a human trafficking syndicate that specialized in using minors for prostitution.

“My biggest accomplishment was bursting a human trafficking crime,” Balogun said.

Giving details of how he executed the task,  the dark skinned retired police officer said: “ There was a guy that was using minors for prostitution on the internet.  I have an accent and when I speak people know I am an African. So, I had to go undercover and had to call the guy on the internet.  I said ‘ hey! what is going on, I am in town. I am a truck driver and I want some girls.’ I asked  how old? He said the younger they are, the more money. I said about 15 to 16 years. He said ok.  I asked  how many he could bring and he replied two. He said which hotel was I and I gave the name to him. He told me to hang up and  he called back  the hotel. He subsequently called me and asked if I was there and I said yes. He said he would be there in 20 minutes.

“We were waiting for him to come but he was smart too. He dropped the girls down the street and made them walk to the room. The girls asked how much I was ready to pay and wanted to take off their clothes but I said not yet.  In the next room were officers listening to our conversation. When I make a signal, that means it is time for them to come in. but before you make the signal, you have to make sure they have mentioned the price, they have given the reason why they were there, so it doesn’t look like you are entrapping them.  When I made the signal, the officers burst in and arrested everybody including me.

Thereafter, Balogun said  the police  processed the girls and after that, “they said look, you are minors and we know somebody is pushing you to do this. Now we don’t want to arrest you but tell us how to get to the boss.  The girls cooperated and  made as if they were leaving. When the man pulled up to pick them up, and that was how we arrested  him. That stopped a lot of those crimes.”

READ  Challenging return as the preferred solution to internal displacement

Balogun said he was in Nigeria to bring his wealth of experience to bear on the disturbing security situation in the country. “ I am trying to bring back  my experience as a  police officer in the states to Nigeria. When you look at the #endsars period, the performance of the police was something that hurt my feelings. How can we make it better? How can we make the police job something that people will look with respect  and want to join?”

He hinted that his  security firm is involved in training not only police officers but “ I also train private security companies. I am in touch with a lot of private security companies in Nigeria.  There is another concept which Nigeria is embracing right now.

“It is called community policing. In the states it is called neighbourhood policing or community policing. It works in a way that in every street, there would be a police officer that lives in that neighbourhood.   You get to know the people and the people know you. In some apartments, they will give you a discount just for the police officer to be there because they know once a police officer is living there, the police car is outside and the crime level will reduce. People are more likely to talk to that officer because they know him. They are more able to tell him’ hey we know who committed that crime.’  For every crime, you need people to tell you what happened. You can have all the gadgets but if people are not talking, you can’t solve the crime.”

READ  Economies, societies are strengthened by migrants’ rich contributions world over- IOM Chief António Vitorino

 

He further said: “I am training police officers, security companies and executive protection. What my security company is doing is to free the police officers from attachment to chiefs, politicians and all that.  We train civilians to represent those officers so that they can go back to the street and do their normal jobs.  We have what we call executive protection/training. We have people that follow the president.  We can train you on how to be efficient and sometimes using less force, description tactics.”

Further expatiating on what his security firm does, the soft spoken officer said: “What my company is trying to do is to bring people to the table.  We are trying to train companies that there is a better way of security where we can teach you how to defend yourself, how to prepare for any emergency, and how to use less force. I have a guy, a navy seal that worked for the United States of America. You will be amazed about what he can do. He can disarm you in a minute even when you come with AK 47.    I am also bringing Hostage Negotiation, people that can talk to you when ransom has to be paid. In the US, we call it Hostage Negotiation.  They can talk to these people, and know their psyche. It is a full package. When you come  to my firm, you can see the whole spectrum  and choose.”

As a vastly travelled person, Blagun said: “I travel a lot and in all the African nations is where you see officers with AK 47. They said it is more intimidating. Criminals use AK 47 in America too but we still don’t carry it.  Is that the right weapon for the police officers, I leave that question open. “

READ  256 men, women, children die in Mediterranean Sea routes as at April 22

On the attitude of the Nigerian authorities his plans, he said: “I have talked to a lot of people in higher positions. In some places I don’t want to mention, I have got good responses.  My firm has done some things with certain private firms and the police. I have dealt with some highly placed security firms. So, this is not my first time here.  We are   looking at having training in Sheraton around July/August this year. It is going to be a big one. I am bringing a retired FBI agent, a navy seal, a retired marine , myself and may be two other officers.

“This is my country, I am proud of it. I am sad sometimes when you look at the security aspect of it.  With my experience, I am trying to make it a better place.  It has always been my passion to come back home. I am retired and don’t really need to work again. My benefits are okay untill I die.  But why die with all this experience when I can pass it to the next person.”

 

Support Voice for African Migrants


Support VOICE FOR AFRICAN MIGRANTS journalism of integrity and credibility.

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best and latest migration, trafficking, displacement and humanitarian reports including thorough investigative reports in these areas, we ask you to consider making a modest support to this noble endeavour.

By contributing to VOICE FOR AFRICAN MIGRANTS, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
* are compulsory
cardlogos
Continue Reading

News

Hundreds of thousands of people leave Britain due to pandemic

 

Hundreds of thousands of people have left Britain as a fallout  of the pandemic on the economy, according to a study released yesterday.

There is an “unprecedented exodus” of workers born outside Britain, researchers at London’s Economic Statistics Centre of Excellence said.

“It seems that much of the burden of job losses during the pandemic has fallen on non-UK workers and has manifested itself in return migration, rather than unemployment,” said the authors.

The study is based on labour market data.

The trend was particularly notable in London, where one in five residents was born abroad.

The capital’s population has fallen by 700,000, the study said, adding that nationwide, the figure could be more than 1.3 million.

If these numbers are accurate, this is the largest decline in Britain’s population since World War II, according to the study.

No evidence suggests that similar numbers of British people who live abroad are returning to Britain.

However, this could be a temporary trend, the researchers said, noting that workers from abroad might return after the pandemic.

The British economy depends on workers from abroad and it is not only threatened by migration due to the pandemic.

Many industries fear the loss of skilled workers due to Britain’s departure from the European Union and stricter migration laws.

A further trend in 2021 is also causing concern, described as a “baby bust” by consultancy PwC, which said many couples were postponing having children due to the uncertainty caused by the pandemic.

This could lead to the lowest birth rate since 1900, PwC said in early January.

READ  Hungary urged to ensure access for asylum seekers

Support Voice for African Migrants


Support VOICE FOR AFRICAN MIGRANTS journalism of integrity and credibility.

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best and latest migration, trafficking, displacement and humanitarian reports including thorough investigative reports in these areas, we ask you to consider making a modest support to this noble endeavour.

By contributing to VOICE FOR AFRICAN MIGRANTS, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
* are compulsory
cardlogos
Continue Reading

Trending

Copyright © 2019 Voice for African Migrants. Site Design: Semasir Connect