Saxony pays out 1.56 billion euros in bridging aid to companies

Saxony has paid out 1.56 billion euros in bridging aid to companies during the coronavirus crisis. This was announced by the Sächsische Aufbaubank to the Deutsche Presse-Agentur on request. According to the report, companies have so far repaid around 14 million euros to the Aufbaubank. According to the provisional figures, claims amounting to 7 million euros are still outstanding and must be repaid by the companies within six months. Conversely, back payments of 7.7 million euros have been made to the companies.

The coronavirus bridging aid was paid out unbureaucratically to companies whose existence was threatened by a sharp drop in turnover. However, this disbursement was linked to a final account - the actual decline in turnover and eligible fixed costs were compared with the forecast. Reclaims can be made, for example, if the actual decline in turnover was lower than expected when the application was submitted. The deadline for submitting the final accounts expired on October 31.