Brussels, 09/06/2009 (Agence Europe) - On Monday 8 June, the European Commission authorised a Romanian scheme intended to provide relief to companies encountering financing difficulties as a result of the credit squeeze in the current economic crisis. The scheme allows authorities to grant aid in the form of subsidised guarantees for investment and working capital loans. The reduction of the guarantee fee can be applied during a period of up to two years for loan guarantees contracted no later than 31 December 2010. Where the duration of the underlying loan exceeds two years, the safe-harbour premiums set out in the Annex to the Temporary Framework, as amended, may be applied for an additional maximum period of four years. The Commission considers that the scheme meets the conditions of the temporary framework for state aid measures because it is limited in time, respects the relevant thresholds and applies only to companies that were not in difficulty on 1 July 2008. It is, therefore, compatible with Article 87(3)(b) of the EC Treaty, which permits aid to remedy a serious disturbance in the economy of a member state. (O.L./transl.rt)