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Coronavirus / IncentivesBusiness Location Germany
Coronavirus
Record Covid-19 Aid Package for Business
The largest aid package in German history is helping commercial, freelance and self-employed enterprises navigate a way through the global coronavirus crisis.
Dec 01, 2020
More than EUR 71 billion in aid already approved
As of December 1, financial aid to the value of EUR 71 billion has already been made available to commercial, freelance and self-employed enterprises in order to help them stay afloat during the ongoing Covid-19 pandemic. As such, the package of aid measures represents the largest aid package in German history. Broken down into its constituent elements, this consists of support from the KfW Special Programme (EUR 45.3 billion); emergency aid for SMEs, the self-employed and freelancers (EUR 13.7 billion); the Economic Stabilization Fund (EUR 6.5 billion); and guarantees from the guarantee banks (EUR 1.4 billion) and large-volume guarantees (EUR 2.7 billion). Around 68,000 applications with a volume of EUR 1.1 billion have been made to the bridging aid program for SMES to date.
*Federal and state funds: the approved volume is a minimum level that may in fact be higher, as the most up-to-date data for all federal states is not yet available.
Germany Trade & Invest Incentives Services
Companies seeking more information about available financial aid can contact Germany Trade & Invest’s Financing & Incentives team of experts who are able to provide general information about all types and sources of funding and incentives programs available in Germany.
