The European Commission has authorised under EC Treaty State aid rules a Finnish scheme aimed at companies encountering financing difficulties as a result of the current economic crisis. The scheme allows the grant of aid of up to €500,000 per company. 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 appropriate to remedy a serious disturbance in the entire Finnish economy, is limited in time, respects the relevant thresholds and applies only to companies that were not in difficulties before 1 July 2008. The measures can be applied until 31 December 2010.
In view of the importance of the scheme for the overall Finnish economy, the Commission considered that the scheme could be approved and that the Finnish authorities demonstrated that the scheme was necessary, proportional and appropriate to remedy a serious disturbance in the entire Finnish economy.