Press Release: State aid: Commission approves €1.5 billion capital injection from the Belgian public authorities for Ethias group

Under the EC Treaty rules on state aid, the European Commission approved a capital injection of €1.5 billion from the Belgian Government for the insurance and banking group Ethias. It concluded that the measure was in line with its communication providing guidance on state aid to overcome the current financial crisis as well as its rescue and restructuring aid guidelines. The aid is limited to the minimum required to enable the Ethias group to continue operations and provides for an adequate return on the capital provided by the state authorities. It is therefore compatible with Article 87(3)(b) of the EC Treaty, which permits aid intended to remedy a serious disturbance in the economy of a Member State.