ANNOUNCEMENT 23 Jul 2009In July 2009, the government of France announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
the letter from the European Commission to France - Brussels, 5.10.2009 C(2009) 7623 final. Available from : < http://ec.europa.eu/competition/state_aid/cases/232453/232453_1074007_33_1.pdf >
the letter from the European Commission to France - Brussels, 30.3.2011 C(2011(2113)final. Available from : < http://ec.europa.eu/competition/elojade/isef/case_details.cfm?proc_code=3_SA_32090 >
On 23 July 2009 the French authorities contacted the European Commission regarding their intention to introduce a measure for reinsurance of export credit insurance policies. This will cover a total of EUR 1 billion in client export credit.
The export guarantees will be ceded for reinsurance to Coface, which is acting on the account of the French state and under State guarantee. The stakeholders in the measure are the Coface State account and the credit insurers entitled to exercise their activities in France.
The motivation for the measure is the prevention of the major upheaval in the French economy which according to the French authorities would result from a failure of the export credit market.
The intention is to provide export guarantees up to 31 December 2010.
Prolongation of the short-term export credit scheme - State Aid SA.32090
On13 April 2011 the French government announced a prolongation ofshort-term export credits (CAP and CAP+ export). According to the Frenchgovernment the motive for this measure is to respond to the economiccrisis and to help industries recover from the crisis. Thecredit-insurance scheme covers small and middle-sized industries, andthey have the possibility to be guaranteed a total of 1 Billion euros ofinter-enterprise export credit. The scheme will be prolonged until theend year 2011.
The Comission decided not to raise objections.
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.