Press Release: State aid: Commission approves amendment to German crisis measure allowing aid of up to €500.000

The European Commission approved, under EC Treaty state aid rules, an amendment to a German scheme allowing to grant aid of up to €500.000 per company, initially approved on 30 December 2008. The amendment will allow more flexible risk-capital investments until 2010. It is in line with the Commission's Temporary Framework for State aid measures to support access to finance in the current financial and economic crisis, because it is limited in time and only applies to companies that were not in difficulties on 1 July 2008. It is therefore compatible with Article 87(3)(b) of the EC Treaty, which permits aid to remedy a serious disturbance in the economy of a Member State.