COVID-19 Economic Aid Payments Detailed in Luxembourg Parliament

On Wednesday 21 October 2020, Luxembourg's Ministry for Economy, in collaboration with the Ministry of Labour, Employment and the Social and Solidarity Economy, published a summary of the various COVID-19 aids which have been paid up to Monday 19 October 2020 to businesses, including under the partial unemployment scheme.

The subject of the partial unemployment scheme as well as the various aid to companies was discussed at the Chamber of Deputies (Luxembourg parliament) this afternoon. The following amounts and numbers were confirmed:

- 2,547 eligible requests for the emergency €2,500 payments for independents/freelancers, totalling €6,367,500
- 4,182 eligible requests for a supplementary payment up to €4,000 for independents/freelancers, totalling €13,513,000
- 6,204 eligible requests for a non-reimbursable payment of €5,000 for small companies, totalling €31,002,000
- 1,939 eligible requests for a non-reimbursable payment of €1,250 for companies per employee, totalling €17,523,000
- 7,301 eligible requests for a complementary no-reimbursable payment of €5,000 for small companies, totalling €36,505,000
- 678 eligible requests for a non-reimbursable payment of €12,500 for companies employing 10-20 people, totalling €8,475,000
- 1,694 eligible requests for a reimbursable advance of up to €500,000 for companies, totalling €136,373,803
- 2,329 eligible requests for a non-reimbursable payment of up to €1,000 for small retail shops, totalling  €5,055,100
- 306 eligible requests for a bank guarantee of up to 25% of turnover, for companies, totalling €149,163,847
- 48 eligible requests for an investment stimulus for companies, totalling €3,890,589
- 6 eligible requests for an R&D project aimed at the pandemic, totalling €5,293,045

In addition, partial employment initiatives during the pandemic supported 464,811 staff (including 375,196 salaried employees) in 14,810 companies, representing 29,654,634 work hours lost to the pandemic, costing €852,391,517 in advance payments to companies (of which €445,518,374 nett was paid out and €406,873,143 was reimbursed, resulting in a nett cost of €306,316,265).