ANNOUNCEMENT 19 Dec 2014In December 2014, the government of Finland announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
EC regulation 1370/2014
On 19 December 2014, the European Commission announced regulation 1370/2014 granting additional state aid to Finnish milk producers affected by the Russian import ban of milk from the EU. The aid worth 10.73million EUR shall be distributed by 31 May 2015.
The regulation came into force on 23 December 2014.
Despite the import ban by Russia, the country has been added as an affected trading partner as it was one of the key export markets of Finnish milk in 2013.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.