Peter Altmaier (CDU), Federal Minister of Economics and Energy, speaks at a press conference on the fight against the Corona crisis. (picture alliance/dpa)
A subsidy programme worth 25 billion euros (28 billion dollars) aimed at helping small and medium enterprises (SMEs) in Germany survive the crisis caused by the novel coronavirus pandemic was launched in Berlin recently.
The tax advisers and auditors tasked with making the applications on behalf of the companies were able to start registering online immediately.
Payments could be made as early as this month, the relevant federal ministries indicated.
The payments are graduated according to lost turnover, with fixed overheads up to an amount of 150,000 euros being paid out to cover costs including rents and leases.
The bridging finance is to cover the months June to August and is aimed for example at the hospitality sector and travel agents, both of which have been hit hard by the crisis and ensuing lockdown.
The subsidies do not have to be repaid.
Economy Minister Peter Altmaier predicted that the programme would help many SMEs. He noted that the payments would be made via the governments of Germany's 16 states.
Finance Minister Olaf Scholz said the bridging finance would help those businesses that had been worst hit to start up again.
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