A support scheme for companies affected by the sanctions against Russia is among the four measures in the government’s crisis package for business and industry in East Finnmark.

The support scheme applies to companies that have lost income as a result of the sanctions against Russia, the Ministry of Trade and Industry stated on Friday.

The government also proposes to allocate NOK 50 million to local support measures that can work quickly, establish a loan guarantee scheme for companies with liquidity challenges, and increase the framework for low-risk loans through Innovation Norway.

“The situation for the business community in East Finnmark is very serious. Activity in East Finnmark is important for the region but also of crucial importance to Norway. Therefore, we are now implementing several measures to remedy the situation,” Minister of Local Government and District Affairs Bjørn Arild Gram (SP) stated.

A significant part of the business community in East Finnmark is dependent on trade with Russian counterparts, Støre said in his statement about the war in Ukraine on Friday.

The government will comment on other topics related to the consequences of the Ukraine crisis for the Norwegian economy in connection with the revised national budget, Støre added.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews

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