18 Jan 2021
EC approves prolongation and budget increase of German R&D support scheme
The European Commission (EC) has approved, under EU State aid rules, the modification of a German scheme to support research and development (R&D), the ‘European Recovery Programme - mezzanine innovation'. The scheme provides senior and sub-ordinated loans under favourable conditions for the long-term financing of R&D projects. The current version of the scheme was approved in June 2016 (SA.39550) and was set to expire at the end of 2020. Germany notified the following modifications to the scheme: (i) a prolongation until 30 June 2021; and (ii) an increase by €200 million of the overall budget of the scheme, from €7.5 billion to €7.7 billion. The provisions of the original scheme remain unchanged. The Commission assessed the measure under the 2014 Framework for State aid for research and development and innovation (RDI) and concluded that the scheme will continue to provide long-term financing for R&D projects in a way that is compatible with the internal market. On this basis, the Commission approved the measure under EU State aid rules.
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