The European Commission has approved, under EU State aid rules, a French guarantee scheme for small and midsize companies with export activities that are affected by the coronavirus outbreak.
Executive Vice-President Margrethe Vestager, in charge of competition policy, said, “The French guarantee scheme, which is expected to mobilise €200 million (US$216.3 million), will support exporting small and midsize companies affected by the coronavirus outbreak. The measure will help these businesses continue their activity during the outbreak. We continue working closely with Member States to ensure that national support measures can be put in place in a coordinated and effective manner, in line with EU rules.”
France notified the Commission a guarantee scheme to support activities of small and midsize exporting companies affected by the coronavirus outbreak. The support, in the form of State guarantees, will be accessible to all French exporting companies with an annual turnover below €1.5 billion (US$1.6 billion). The measure is expected to mobilise €200 million.
The scheme aims at limiting the risk associated with issuing financing guarantees to those exporting companies that are most severely affected by the economic impact of the coronavirus outbreak, thus ensuring the continuation of their activities.
Full Content: Europa
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.