News
European Commission approved of Estonia’s State aid plan of 500 thsd euros
14.07.2009
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The Baltic Course: The European Commission approved of the plan of Estonia to temporarily grant aid of up to 500,000 euros for supporting the economy, writes Postimees Online/LETA. On the basis of the competition rules in the EC treaty, the European Commission approved of Estonia's measure for aiding entrepreneurs in overcoming the current economic crisis. According to this measure, Estonia may grant up to 500,000 euros of aid in 2009 and 2010 to entrepreneurs that have difficulties for financing their activities due to a deceleration in issuing loans. "Estonia's aid plan will help entrepreneurs to manage the problems caused by the current economic situation without bringing about unjustified distortions in competition," said the European Commissioner in charge of competition affairs Neelie Kroes. She added that due to co-operation from the Estonian authorities, the Commission managed to approve of the measure very quickly. |
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