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

The European Commission authorised on 10 June 2010, under EU State aid rules, a measure adopted by Latvia 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 (see IP/08/1993). In particular, the measure requires a market-oriented remuneration and tackles the problem of the current unavailability of the short-term export credit insurance cover in the private market. The Commission authorised the measure until 31 December 2010.