Brussels, 15/04/2009 (Agence Europe) - On Wednesday 15 April, the European Commission authorised an Irish measure to help businesses to deal with the current economic crisis. Irish authorities may grant aid of up to €500,000 per company in 2009 and 2010 to businesses facing funding problems because of the current credit crunch. The aid will be granted in the form of direct grants, reimbursable grants, interest rate subsidies, and subsidised public loans. The Commission says in a press release that the scheme meets the conditions of the Commission's Temporary Framework giving member states additional scope to facilitate access to financing in the present economic and financial crisis. The Commission says that, in particular, the scheme is limited in time and scope and applies only to businesses which were not in difficulty on 1 July 2008, that is, before the unfolding of the crisis. It is, therefore, compatible with the relevant conditions of the EC Treaty, which permit aid to remedy a serious disturbance in the economy of a member state. Competition Commissioner Neelie Kroes said: “The Irish scheme will help businesses affected by the current credit crunch without unduly distorting competition”. (O.L./transl.rt)