An Overview of the Corona-Economic-Aid

Initial Situation

The "Federal Law on the Establishment of the COVID-19 Crisis Management Fund (COVID-19-FondsG)" was enacted on 16 March 2020. By virtue of this act the COVID-19 crisis management fund ("COVID-19-Fund") was established which is endowed with up to 4 billion euro. The fund aims to provide the government with the necessary financial resources to cope with the current crisis. The Federal Ministry of Finance (Bundesministerium für Finanzen) is responsible for distributing the funds to the respective ministries.

Money from the COVID-19-Fund will especially be used for the following measures:

  • Stabilisation of health care services;
  • recovery of the labour market (especially short-time-work);
  • maintenance of public order and security;
  • measures relating to the requirements for educational establishments;
  • softening of revenue losses as a result of the crisis;
  • measures in connection with the Epidemics-Act (Epidemiegesetz);
  • revival of the economy.

Current support-services overview:

Funds Vienna

Funds Tyrol

Funds Lower Austria

Funds Burgenland

  • Franting of the deficiency guarantees by Wirtschaft Burgenland WiBuG;
  • Hardship fund for one-person companies of the Province of Burgenland

Funds Styria

Updated: 23th of April 2020

We point out that the legal situation can change constantly, but we are on effort to keep the contents up to date.