Industry Minister Vestre is considering a loan scheme for Norwegian companies affected by electricity prices

Jan Christian VestrePhoto: Beate Oma Dahle / NTB
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Industry Minister Jan Christian Vestre (AP) is open to giving businesses in crisis loans instead of financial support, TV 2 reports.

“I can say that we are looking at several ideas, and then there are some basic issues that we have to decide on… Should any financial support be given as pure support, or should it be given as a loan?” Industry Minister Jan Christian Vestre told TV 2.

He pointed out that the state used loan guarantee schemes during the corona pandemic. 

Vestre: Some companies will fail

“Unfortunately, some companies will fail. That’s how it is,” he stated.

The government must also take into account complicated EU rules for state aid. Still, Vestre assures that crisis aid is on the way.

“We have said that we will come to the aid of the companies that are struggling the most, hopefully already this autumn,” he added.

According to Vestre, it is still too early to provide more details on the measures. 

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

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1 Comment on "Industry Minister Vestre is considering a loan scheme for Norwegian companies affected by electricity prices"

  1. Vernon Childers | 13. August 2022 at 17:24 | Reply

    A loan from Nome is like money from home. Robbing Peter to pay Paul. Somebody is paying for all of this and it’s the taxpayer. There is no free lunch.

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