Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-04-22-Speech-3-421"
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"en.20090422.56.3-421"2
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"I will do my utmost. On 19 January 2009, the Commission adopted a new temporary state aid framework which provides additional openings for Member States to grant state aid until the end of 2010. This initiative was previewed in the Commission’s recovery plan the previous month.
The main objective of the framework is to limit the fallout of the crisis by facilitating companies’ access to finance. Those measures are applicable to all companies – but small and medium-sized enterprises (SMEs) can access higher aid intensities, as they are clearly the most vulnerable when access to credit is tightened. In other words this measure is of particular benefit to SMEs. The most relevant for SMEs is the new possibility for the granting of EUR 500 000 per undertaking to cover investments and/or working capital over a period of two years.
That is a new temporary compatible aid – not by the way a new
of EUR 500 000 – and provided that it fulfils the specific conditions, this new aid is declared compatible by the Commission under Article 87(3)(b) of the Treaty, in other words under a clearly very exceptional legal basis which is directly linked to the current financial crisis. That new aid can be cumulated with the
but within the limit of EUR 500 000 for the period 2008–2010.
In addition, under the temporary framework, Member States could also grant state-aid guarantees for loans at a reduced premium, aid in the form of a subsidised interest rate applicable to all types of loans, and subsidised loans for the production of green products involving the early adaptation to, or going further than, the future Community product standards.
The Commission has also increased the allowed risk capital – an injection in SMEs – from EUR 1.5 million to EUR 2.5 million per year, and a reduction of the required level of private participation from 50% to 30%.
Finally, while all measures adopted under this temporary framework still need to be notified to the Commission, specific arrangements to ensure a fast adoption of the Commission’s decisions have been put in place. So they are quick, effective and efficient."@en1
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