Brussels, 15th April 2009
Competition Commissioner Neelie Kroes said "The Irish scheme will help businesses affected by the current credit crunch without unduly distorting competition”.
The scheme, notified on 26 March 2009, 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, that is before the unfolding of the crisis.
The scheme is intended to increase possibilities to give timely and well targeted aid to SMEs and large companies and will therefore significantly contribute to remedying the current financial and economic crisis.
The decision will be published in the State Aid Register on DG Competition’s website, under the reference number N 186/2009. 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.