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State Aid

COVID-19 pandemic: ESA greenlights Norwegian guarantee scheme for small and medium sized enterprises

26.3.2020

EN | NO

ESA has approved a guarantee scheme in Norway to ensure access to liquidity for micro, small and medium-sized enterprises (SMEs).

Many of these companies are facing a sudden shortage of liquidity due to the economic effects of the COVID-19 pandemic. While still having to pay their fixed costs, they are currently left with little or no revenues.

For some, the shortage of liquidity is already acute. Many others are likely to face a severe liquidity shortage soon.

Through the scheme, the Norwegian authorities will provide public guarantees on investment and working capital loans granted to SMEs by credit institutions in order to meet immediate liquidity needs. The total amount of loans secured by the guarantees can be up to NOK 50 billion.

The Norwegian authorities notified the scheme on 25 March 2020. ESA has now approved the scheme taking into account the State Aid Temporary Framework to support the economy in the context of the COVID-19 outbreak adopted by the European Commission on 19 March 2020. 

For further information, please contact:

Øystein Solvang
Head of Communications
mob. +32 490 57 63 53




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