300 Million Euro in Corona-Relief Funds repaid

Since the beginning of the Corona-Pandemie, Lower Saxony has quickly and bureaucratically paid out Corona-Aid. Hundreds of Millions of Euros - too much.

, and Yaroslav Smith

2024 July 19 . 9:59 PM

2 min read

After the outbreak of the Corona-Pandemie, many companies were in distress, the country came to... — After the outbreak of the Corona-Pandemie, many companies were in distress, the country came to their aid with multi-million euro support.

Finances - 300 Million Euro in Corona-Relief Funds repaid

From relief funds for companies and self-employed individuals in Lower Saxony during the Corona-Pandemic, around 300 million Euro have been returned. This is approximately one third of the approved funds, according to a spokesperson for the Economy Ministry in Hannover. A significant portion of the money was voluntarily returned. There have only been around 20 lawsuits regarding the withdrawals, the spokesperson added.

In Lower Saxony, over 139,000 entrepreneurs and self-employed individuals were supported with approximately 909 million Euro. In cases where the funding in the relevant period was higher than the coronavirus-related financial damage, the excess amount had to be returned.

The Corona relief fund of the Federal Government could be applied for from March to May 2020 for a three-month funding period. In total, around 13.6 billion Euro were paid out. How the money was paid out was the responsibility of the federal states.

The Federal Ministry of Economics estimates that approximately 5 billion Euro may have flowed excessively. According to the Ministry's statements, around 3.46 billion Euro were returned by around 550,000 companies and self-employed individuals.

Despite the return of around 300 million Euro from relief funds in Hannover due to the Corona-Pandemic, over 139,000 entrepreneurs and self-employed individuals in Lower Saxony still received approximately 909 million Euro in support.
The quick help for businesses and individuals affected by the Covid-19 disease in Lower Saxony was part of the broader Coronavirus relief efforts by the German Federal Government.
The return of excess funds by companies and self-employed individuals in Lower Saxony during the Corona crisis has not resulted in many lawsuits, with only around 20 cases reported.
The Economic policy in Lower Saxony during the Coronavirus pandemic focused on providing quick help to companies and self-employed individuals to mitigate the economic impact of the disease.
The financial health of many companies and self-employed individuals in Lower Saxony was impacted by the Coronavirus, necessitating the need for quick help in the form of relief funds.