18/10/2023 (Agence Europe) – On Wednesday 18 October, the European Commission announced that it had authorised a €100 million Austrian State aid scheme to support small and medium-sized enterprises (SMEs) faced with the consequences of Russia’s military aggression against Ukraine and, more specifically, the increase in energy costs. This scheme was notified under the Temporary Crisis and Transition Framework adopted by the Commission on 9 March 2023 (see EUROPE 13138/1). The aid will take the form of public guarantees on new loans from credit institutions to SMEs to finance the exceptionally high electricity and gas costs that businesses have incurred during 2023. The duration of the guarantees is limited to a maximum of five years and these guarantees will be granted no later than 31 December 2023. (EV)