The European Commission has approved, under EU State aid rules, a €2 billion Italian scheme to support the trade credit insurance market in the context of the coronavirus outbreak. Trade credit insurance protects companies supplying goods and services against the risk of nonpayment by their clients. Given the economic impact of the coronavirus outbreak, the risk of insurers not being willing to issue this insurance has become higher. The Italian scheme will ensure that trade credit insurance continues to be available to all companies, avoiding the need for buyers of goods or services to pay in advance, therefore reducing their immediate liquidity needs. The Commission assessed the measure under EU State aid rules, and in particular Article 107(3)(b) of the Treaty on the Functioning of the European Union (TFEU). The Commission concluded that the measure will contribute to managing the economic impact of the coronavirus in Italy. It is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the general principles set out in Temporary Framework. Furthermore, the Commission has found the scheme is in line with the Short-term export-credit Communication. On this basis, the Commission approved the measures under EU State aid rules. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “This €2 billion Italian scheme will contribute to ensuring that trade credit insurance remains available to all companies so that they can secure their commercial exchanges. This will help them address their liquidity needs and continue their activities during and after the crisis. We continue working closely with Member States to ensure that national support measures can be put in place in a coordinated and effective manner, in line with EU rules.