On Friday 28 July, the European Commission found that the Belgian €20 million scheme to facilitate the rescue and restructuring of small and medium-sized Wallonian businesses was compatible with EU rules on state aid.
Under this scheme, the public company Société wallonne de Gestion et de Participation (SOGEPA) may offer financial support to small and medium-sized enterprises (SMEs) in Wallonia in financial difficulties, for rescue or restructuring actions. This financial support will be most specifically available to businesses whose problems may have significant social consequences in the region.
The Commission analysed the measure, to run until 2020, in light of the 2014 guidelines on State aid for the rescue and restructuring of companies in difficulties other than financial establishments.
The institution considered that the aid would be transparent and of limited scope in time and content and that it would contribute to the region's economic cohesion and development, but without affecting competition. It also noted that potential beneficiaries must submit a restructuring plan guaranteeing long-term viability and contribute significantly to the restructuring costs. The Commission therefore concluded that the scheme was compatible with EU state aid rules. (Original version in French by Lucas Tripoteau)