Press Release: State Aid: In-depth investigation into Finnish plans to modify investment aid and young farmers start-up support

The European Commission has opened a formal investigation under the EU State Aid rules into Finnish plans to modify investment aid and young farmer start-up support provided under existing aid schemes.

The notified measure envisages lowering the minimum interest rate that the recipient of the loan must pay from 2% to 1% for the years 2011 and 2012. According to the Finnish authorities the reduction would be applicable for the new aid to be granted under the existing aid schemes as well as to aid already granted.

The Commission has no objections to this measure concerning the new aid to be granted after approval of the present modification.