IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 23 Jan 2009 | Removal date: 23 Dec 2011
Still in force

Trade finance

The Luxembourg authorities contacted the European Commission on 23 January 2009 regarding their intention to introduce a temporary insurance cover mechanism, which complements basic export credit insurance taken out with private insurance companies. The budget of the measure will not exceed EUR 25 million. - State aid N50/2009.

 
The export credit insurance market in Luxembourg is dominated by the companies Atradius, Coface, Ducroire SA and Euler-Hermes.
 
According to the Luxembourg authorities the global financial crisis has led to private credit insurance companies facing requests for higher compensation than in the past forcing them to adopt a more cautious approach when granting credit. According to the Luxembourg authorities the failure of the Luxembourg export credit insurance market has had a major effect on the situation.
 

Prolongation of Short-term export credit insurance - SA.32846
 
On 9 April 2011 the Luxembourg authorities contacted the European Commission regarding their intention to prolong the existing scheme until 31 December 2011.

 
The Commission has decided to consider that the notified measure is compatible with the internal market up until 31 December 2011.
 
 
A state measure in the GTA database is assessed solely in terms of theextent to which its implementation affects the extent of discriminationagainst foreign commercial interests. On this metric, the state aidproposed here is discriminatory.
 
 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

Please report this page in case you detect an inaccuracy in its content.