A temporary support programme for monitoring State aid

For calculating and monitoring State aid, Finnvera has adopted a State aid programme where the support given accumulates separately for each enterprise. The European Commission has approved this temporary programme, to be in force until 31 December 2010.

The support programme is a national programme for use by all authorities and organisations that grant public support to enterprises. The support is an alternative to de minimis aid, limited to EUR 200,000. In practice, the new temporary support will replace de minimis aid until the end of 2010.

When Finnvera grants loans or guarantees (except export credit guarantees), they may involve imputed aid if the interest on a loan received by an enterprise, or the commission on a guarantee given to an enterprise, falls below the reference rate determined by the EU Commission and applied to the case in question. In such a situation, Finnvera is required to comply with the rules of the support programme. The amount of temporary support is calculated separately for each enterprise. The calculation also includes any de minimis aid or temporary support that the same enterprise may have received from any public body between 1 January 2008 and 31 December 2010. During this period, the maximum permissible support per enterprise is EUR 500,000.

All sectors of business, with the exception of fishing and agriculture proper, are included in the scope of the temporary support programme.

Support programmes notwithstanding, Finnvera always makes its financing decision on a case-by-case basis.

Finnvera offers loans and guarantees to enterprises for domestic operations, and export credit guarantees to exporters and financiers of exports. Finnvera grants financing to business deemed to be profitable and shares the risks involved with other financiers.

Additional information:
Katri Kosonen, Senior Legal Counsel, tel. +358 20 460 7316
Finnvera Telephone Service, +358 20 690 784
Finnvera Regional Offices, switchboard +358 204 6011