Press Release: State Aid: Commission approves Luxembourg’s export-credit insurance scheme

The European Commission authorised, under the EC Treaty state aid rules, a measure adopted by Luxembourg to limit the adverse impact of the current financial crisis on export firms. The Luxembourg authorities notified the European Commission of the measure in the context of the Commission Communication on short-term export-credit insurance and with reference to the Commission's Temporary Framework for state aid measures to support access to finance in the current financial and economic crisis, amended on 25 February 2009. It should be noted that this measure is of limited duration and scope, with a budget of €25 million. It is therefore compatible with the principles underpinning the single market.