Brussels, 12/04/2000 (Agence Europe) - The European Commission authorised the extension until the end of 2000 of the Dutch regime of aid to shipyards and did not raise any objections to the modifications of the general export credit arrangements. The aid regime for shipbuilding that is not modified compared to 1999 foresees subsidies totalling EUR 59 million per year. The export credit regime is modified as the interest rate subsidy are replace by direct subsidies to Dutch exporting shipyards, have up to 3.5% of the contract value. The spending foreseen this year for the exporting of ships is around EUR 18 million.
The Dutch authorities have undertaken to ensure that the aid, even if they are cumulated, will not exceed the ceilings set at a Community level: the limit is 9% of the investment for the shipbuilding contracts whose contract value is greater than EUR 10 million and 4.5% for other cases.