Business news

European Commission approves SID-managed EUR 222m loan aid scheme

Brussels/Ljubljana, 09 July (STA) - The European Commission has approved the EUR 222 million-worth Slovenian scheme for support for companies affected by the coronacrisis. The measure, to be executed by the state-owned SID export and development bank, is about improving access to external financing to help companies bridge the crisis.

The Commission approved the scheme in line with its temporary framework for state aid measures during the coronacrisis, which involves slightly laxer rules in this field.

The scheme, which is co-financed from European structural and investment funds, will secure public support through subsidised interest rates or loans and will be available to all companies, the Commission wrote.

The Commission established Slovenia's measure is in line with the conditions in the temporary framework, since the maturity of the loans is limited, as is the amount of loans, which is in line with the envisaged levels.

The loans concern new investment and new needs for working capital and the Slovenian authorities have listed measures that will make sure aid will definitely reach the intended beneficiaries, the Commission added.