The European Commission has approved two French State aid schemes with a combined maximum budget of EUR 40.5 million to support companies facing higher fuel prices due to the Middle East crisis. France will allocate EUR 23.3 million to transport companies and EUR 17.2 million to agricultural, fishery and aquaculture companies under the Middle East Crisis Temporary State Aid Framework. The schemes cover companies whose fuel expenditure represents at least 5% of annual turnover. Eligible businesses may receive state guaranteed soft loans of EUR 5,000 to EUR 50,000 at a fixed interest rate of 3.8%, with a maximum term of three years and a 12-month deferral of principal repayments. The Commission concluded that the schemes meet EU State aid conditions and are necessary, appropriate and proportionate to support the affected sectors.
European Commission approves up to EUR 40.5 million in French fuel cost aid for transport, agriculture, fishery and aquaculture companies
The European Commission has approved two French State aid schemes of up to EUR 40.5 million for transport, agriculture, fishery and aquaculture companies affected by higher fuel prices. Eligible businesses may obtain state guaranteed loans of EUR 5,000 to EUR 50,000 at a fixed rate of 3.8% for up to three years.