Press Release: State aid: Commission authorises temporary French scheme allowing subsidized guarantees to boost real economy

The European Commission authorised under EC Treaty rules on state aid a French scheme aimed at providing relief to companies encountering financing difficulties as a result of the credit squeeze in the current economic crisis. The scheme allows authorities at national, regional and local level to grant aid in the form of subsidized guarantees for investment and working capital loans concluded by 31 December 2010. The scheme meets the conditions of 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, respects the relevant thresholds and applies only to companies that were not in difficulty 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.

European Commission: MEMO/09/87: State aid: Additional information on guarantees adopted under the Temporary Framework http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/09/87&format=HTML&aged=0&language=EN&guiLanguage=en

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