Press Release: State aid: Commission authorises Estonian temporary scheme to grant aid of up to €500 000 to boost real economy

On 13 July, 2009, the European Commission authorised, under EC Treaty state aid rules, an Estonian measure to help businesses to deal with the current economic crisis. Aid of up to €500,000 per firm may be granted in 2009 and 2010 to businesses facing funding problems because of the current credit squeeze. The scheme meets the conditions of the Commission’s Temporary Framework for state aid measures, which gives Member States additional scope to facilitate access to financing in the present economic and financial crisis. In particular, the aid was limited in time and scope and can be granted only to companies that were not in difficulties before 1 July 2008. It was 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.