The European Commission has approved under EC Treaty State aid rules an Italian scheme aimed at firms that encounter financial difficulties as a result of the current economic crisis. The scheme is part of a wider set of measures that Italy is putting in place under the Temporary Framework, and in relation to which three other measures have already been authorised by the Commission. The scheme allows national, regional and local authorities to grant aid in the form of reduced interest rates on loans 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 financial difficulty before 1 July 2008.
The Temporary Framework is available by clicking here.