Brussels, 25th February 2009
"These schemes will help alleviate the difficulties faced by Hungarian businesses affected by the current situation without giving rise to any undue distortions of competition”, said Competition Commissioner Neelie Kroes. “The Commission was able to approve the measures very quickly thanks to the excellent cooperation of the Hungarian authorities."
The first scheme is based on the provisions of the temporary framework that deal with compatible aid of a limited amount. In particular, the maximum amount of aid does not exceed €500 000 per company and the scheme applies only to businesses which were not in difficulty on 1 July 2008.
The second scheme complies with the rules in the temporary framework that deal with aid in the form of subsidised interest rates. The low rates will be available for loans contracted no later than 31 December 2010, but only on interest payments up to 31 December 2012. After that date firms will have to pay market rates. The scheme does not apply to firms that were already in difficulty on 1 July 2008.
The decisions will be published in the State Aid Register on DG Competition’s website, under the reference numbers N 77/2009 and N 78/2009. The latest decisions on state aid published in the Official Journal and on the website are listed in the electronic newsletter State aid Weekly e-News.