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Image header Agence Europe
Europe Daily Bulletin No. 9821
Contents Publication in full By article 25 / 34
GENERAL NEWS / (eu) eu/state aid

Commission go-ahead for French and Portuguese aid schemes for businesses

Brussels, 19/01/2009 (Agence Europe) - On Monday 19 January, the European Commission gave its clearance for a first series of aid measures for businesses adopted by France and Portugal to tackle the current economic crisis. The measures will allow state, regional or local authorities and certain public bodies to grant aid of up to €500,000 per business in 2009 and 2010. They only apply to businesses which were not in difficulty on 1 July 2008 but which have become so because of the current economic and financial crisis or which encounter financing problems due to the credit crunch. The French and Portuguese schemes meet the conditions imposed by the Commission's temporary framework for state aid adopted on 17 December 2008 to give member states extra possibilities to facilitate their access to financing in times of crisis. These two schemes are therefore compatible with Article 87, paragraph 3, point b) of the EC Treaty, which permits aid intended to remedy a serious disturbance in the economy of a member state. France and Portugal are the first two countries after Germany to resort to this new temporary framework. (O.L./transl.jl)

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