GERMANY - The government plans an additional 25 billion euros in aid to businesses

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The German government announced it would provide 25 billion euros in additional financial assistance to small and medium-sized businesses hit by the coronavirus crisis, in a bid to stem an imminent wave of bankruptcies.

The money injection is aimed at small businesses in the hospitality and gastronomy sectors as well as professional sports clubs in leagues and small institutions.

The government will help cover the fixed costs of businesses from June to August.

Turnover in April and May fell by at least 60% compared to the same period last year.

The amount of aid available will increase if firms have experienced the largest decline in sales, where individual firms will be able to apply for a maximum of € 150,000 over three months.

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