The European Commission has approved German plans to set up a 500-billion-euro (564-billion-dollar) fund to support businesses affected by the coronavirus crisis.
The decision brings the total of German approved funds to 600 billion euros, with the EU's executive arm previously having given its nod to 100 billion euros in funds.
EU Commissioner for Competition Policy Margrethe Vestager said the funds contained sufficient safeguards to limit distortions of competition.
"In these difficult times, we continue to work in close cooperation with member mtates to find workable solutions to facilitate the access to finance of companies affected by the coronavirus outbreak, in line with EU rules," she said.
The German support will take the form of guarantees - amounting to the lion share of 400 billion euros - as well as subsidized debt instruments and recapitalization instruments.
Under the plans, only companies that were not already considered to be in difficulty at the end of last year are eligible for aid.
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