Press Release: State aid: Commission authorises temporary Finnish scheme allowing limited amounts of aid to boost real economy

The European Commission authorised under EC Treaty rules on state aid a Finnish scheme aimed at companies encountering financing difficulties as a result of the credit squeeze in the current economic crisis. The scheme allowed granting aid of up to €500 000 per company. The scheme met the conditions of the Commission’s Temporary Framework for state aid measures to support access to finance in the current financial and economic crisis, as amended on 25 February 2009, because it was appropriate to remedy a serious disturbance in the entire Finnish economy, was limited in time, respected the relevant thresholds and applied only to companies that were not in difficulties before 1 July 2008. It was therefore compatible with Article 87(3)(b) of the EC.