Yesterday, the European Commission announced that it had approved a temporary aid scheme proposed by the government of Slovakia. The program will provide up to €500,000 in grants to firms facing funding problems due to the current financial crisis. The scheme follows the guidance previously approved by the European Commission, in that the grants will not exceed €500,000 per company and the scheme applies only to businesses which were not in difficulty on July 1, 2008. Currently, and in accordance with European Commission guidance, the program is expected to expire on December 31, 2010.