The Commission has authorised under EC Treaty rules on State aid a scheme to provide relief for firms encountering financing difficulties as a result of the credit squeeze in the current economic crisis. The measure allows government, regional and local authorities to grant aid in the form of reduced interest rates on loans of any duration concluded by 31 December 2010. The scheme meets the conditions of the Commission’s Temporary Framework for State aid measures, which gives Member States additional scope to facilitate access to financing in the present economic and financial crisis. In particular, 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. The scheme is the first Czech measure authorised under the Temporary Framework for State aid and forms part of a wider set of measures ("Ceský prechodný rámec") aimed at boosting the Czech economy.
Register now for your free, tailored, daily legal newsfeed service.
Questions? Please contact email@example.comRegister
Commission authorises Czech temporary scheme to grant reduced-interest loans
Popular articles from this firm
If you would like to learn how Lexology can drive your content marketing strategy forward, please email firstname.lastname@example.org.
Related topic hubs
Gee Yung Loong
What our clients say
"I think it is a great service, continue the good work."