METSAF: Commission approves EUR 40.5 million State aid to support agricultural, fishery and transport companies facing increased fuel prices in France
The two French schemes have a combined maximum budget of EUR 40.5 million, including EUR 23.3 million for transport companies and EUR 17.2 million for agricultural, fishery and aquaculture companies. They aim to mitigate the impact of increased fuel prices and are open to companies whose fuel expenditure represents at least 5% of annual turnover.
The aid will take the form of soft loans at a fixed interest rate of 3.8%, backed by a State guarantee. Eligible beneficiaries may borrow between EUR 5 000 and EUR 50 000 for up to three years, including a 12-month deferral of principal repayments.
The Commission assessed the schemes under Article 107(3)(c) TFEU and Sections 1, 2.1 and 2.2 of the Middle East Crisis Temporary State Aid Framework (METSAF). It found that the schemes are necessary, appropriate and proportionate and do not adversely affect trading conditions to an extent contrary to the common interest.
The non-confidential decisions will be published under case numbers SA.124159 (agriculture, fishery and aquaculture) and SA.124290 (transport) in the State aid register.
For more information, see the Commission’s PR.