Press Release: State aid: Commission authorises temporary Italian interest rate subsidies for green products

The European Commission authorised under EC Treaty state aid rules an Italian scheme offering interest rate subsidies for the production of environmentally friendly (green) products in the car parts sector. The Commission concluded that the scheme will facilitate investments in products featuring an early adaptation to EU standards for the improvement of environmental protection. It therefore meets the conditions of the Commission’s temporary state aid framework that gives Member States additional possibilities for providing businesses with improved access to financing during the economic and financial crisis, as amended on 25 February 2009. The measure is therefore compatible with Article 87(3)(b) of the EC Treaty, which permits aid intended to remedy a serious disturbance in the economy of a Member State.