EU approves EUR 800m state aid for Spanish textile sector
(BRUSSELS) - The European Commission gave its approval on Tuesday to the plans of Spanish authorities to grant 800 million euros (1.08 billion dollars) in public aid to the textile and clothing sector.
"After an in-depth investigation, the commission is satisfied that the Spanish textile programme does not unduly distort competition in the single market," EU Competition Commissioner Neelie Kroes said in a statement.
The commission, the European Union's state aid watchdog, opened an investigation in November 2007 into the aid programme over doubts that it complied with EU rules.
The programme, which ran from June 2006 to December 2008, supported technical research, innovation, export of Spanish products, training and measures to keep aged workers in their job.
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