# C_2020332EN.01000501.xml

| 8.10.2020 | EN | Official Journal of the European Union | C 332/5 |
| --- | --- | --- | --- |

8.10.2020

EN

Official Journal of the European Union

C 332/5

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State aid – Decision to raise no objections

(2020/C 332/05)

The EFTA Surveillance Authority raises no objections to the following State aid measure:

| Date of adoption of the decision | 26 June 2020 |
| --- | --- |
| Case No | 85 348 |
| Decision No | 069/20/COL |
| EFTA State | Norway |
| Region | COVID-19 Amendments to the subsidised loan scheme for package travel traders |
| Legal basis | The legal basis is the Parliamentary Decision authorising the measure. (1) The terms and conditions for the loan will be set out in a letter of assignment and term sheet issued by the Norwegian Ministry of Trade, Industry and Fisheries to Innovation Norway. |
| Type of measure | Subsidised loans scheme |
| Objective | By Decision No 046/20/COL, ESA approved a subsidised loan scheme for package travel traders (‘the loan scheme’). The objective of the loan scheme is to: (i) ensure that sufficient liquidity remains available for traders in the package travel market; (ii) ensure the quickest possible settlement of refunds or reimbursements to package travellers; and (iii) preserve the continuity of economic activity during and after the COVID-19 outbreak, by means of subsidised interest rates for loans. Reference is made to the said Decision for a more detailed description. |
| Budget | NOK 1 500 million |
| Duration | 26.5.2020 until 31.12.2020 |
| Economic sectors | Package travel |
| Name and address of the granting authority | Innovation Norway |
| Akersgata 13 |
| 0104 Oslo |
| NORWAY |

Date of adoption of the decision

26 June 2020

Case No

85 348

Decision No

069/20/COL

EFTA State

Norway

Region

COVID-19 Amendments to the subsidised loan scheme for package travel traders

Legal basis

The legal basis is the Parliamentary Decision authorising the measure. (1) The terms and conditions for the loan will be set out in a letter of assignment and term sheet issued by the Norwegian Ministry of Trade, Industry and Fisheries to Innovation Norway.

Type of measure

Subsidised loans scheme

Objective

By Decision No 046/20/COL, ESA approved a subsidised loan scheme for package travel traders (‘the loan scheme’). The objective of the loan scheme is to: (i) ensure that sufficient liquidity remains available for traders in the package travel market; (ii) ensure the quickest possible settlement of refunds or reimbursements to package travellers; and (iii) preserve the continuity of economic activity during and after the COVID-19 outbreak, by means of subsidised interest rates for loans. Reference is made to the said Decision for a more detailed description.

Budget

NOK 1 500 million

Duration

26.5.2020 until 31.12.2020

Economic sectors

Package travel

Name and address of the granting authority

Innovation Norway

Akersgata 13

0104 Oslo

NORWAY

The authentic text of the decision, from which all confidential information has been removed, can be found on the EFTA Surveillance Authority’s website: http://www.eftasurv.int/state-aid/state-aid-register/decisions/

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(1)  https://stortinget.no/no/Saker-og-publikasjoner/Vedtak/Vedtak/Sak/?p=79784 (Tilleggsbevilgninger og omprioriteringer i statsbudsjettet 2020).

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