The Corona aid organization COFAG is being disbanded. The plan should be ready by the end of September. As you know, the Covid relief measures for companies and the special regulations will end on June 30.
“This afternoon I instructed ABBAG (the federal investment company, memorandum) to work out a settlement concept together with COFAG,” ÖVP Finance Minister Magnus Brunner said on Tuesday evening. He will then “immediately” decide on the resolution.
Clear words from the Court of Auditors
The Court had also recommended that the dissolution of the institute, which was only established in 2020 as part of the Corona crisis, be investigated after the measures expired, Brunner reminded us. “It was always clear to us, as the name Covid-19 finance company suggests, that it is of course an institution with an end date,” said the minister.
“It has now completed its task”
“COFAG has proven itself, yes, but it has now completed its task.” Brunner thanked the employees for their efforts.
Processed 99 percent of requests
The Corona aid payments are hardly relevant to the budget and COFAG is no longer needed as a payment pool, Brunner said. The institution has processed 99 percent of the more than 1.3 million applications from 660,000 applicants. EUR 15 billion was paid out, an average of EUR 22,000 per applicant.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
