The European Commission has given the green light to the French guarantee scheme intended to support tricolor small and medium-sized enterprises (SMEs) whose exports are suffering from the Covid-19 pandemic. “ The French guarantee scheme, which should mobilize 200 million euros, will support the exports of small and medium-sized businesses affected by the coronavirus pandemic. The measure will help these companies to continue operating during the pandemic, ” said Margrethe Vestager, Executive Vice-President responsible for competition policy.
France had notified the Commission of this device, which will be accessible to all French exporting companies whose annual turnover is less than 1.5 billion euros. Brussels, which gave its approval on Monday, has largely relaxed since the start of the crisis its usually very meticulous surveillance of all state aid.
Guarantees
In the present case, the Commission judges that the French measure respects the Treaties because it covers guarantees of limited duration and volume, since they are only granted until the end of 2020. In addition, the French State does not bear 100% of the risk but a maximum of 90%. Finally, this mechanism ensures the sharing of risks between its beneficiaries and the guarantee premium provides sufficient remuneration to the French State.
Margrethe Vestager assured that Brussels continues "to work in close collaboration with the Member States to ensure that national support measures can be put in place in a coordinated and effective manner, in compliance with EU rules ".
