Press Release: State Aid: Commission approves Lithuanian short-term export credit insurance scheme

The European Commission has authorised, under EU State aid rules, a measure adopted by Lithuania to limit the adverse impact of the current financial crisis on exporting firms. The Commission found the measure to be in line with its Temporary framework for state aid measures to support access to finance in the current financial and economic crisis. In particular, the measure requires a market-oriented remuneration and concerns insurance cover that is currently insufficient on the private market. The Commission authorised the measure until 31 December 2010.