Italian farmers in line for €1.2 billion support scheme
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- 19 May 2022
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Italian are set to benefit from a scheme to support the agricultural, forestry, fishery and aquaculture sectors, funded to the tune of €1.2 billion.
The European Commission announced yesterday (Wednesday, May 18) that it has approved the scheme, which is aimed at supporting these sectors in Italy in light of the Russian invasion of Ukraine.
The scheme was approved under the State Aid Temporary Crisis Framework, adopted by the commission on March 23.
Executive Vice-President of European Commission Margrethe Vestager – who is in charge of competition policy – said yesterday: “This €1.2 billion scheme will enable Italy to support the agricultural, forestry, fishery and aquaculture sectors affected by the input costs increase caused by Russia’s invasion of Ukraine and the related sanctions.
“We continue to stand with Ukraine and its people. At the same time, we continue working closely with member states to ensure that national support measures can be put in place in a timely, coordinated and effective way, while protecting the level playing field in the Single Market,” Vice-President Vestager added.
The eligible beneficiaries in Italy will be entitled to receive limited amounts of aid in the form of direct grants; tax or payment advantages; repayable advances; or reductions or exemptions from the the payment of social security and welfare contributions.
The scheme will be open to companies of all sizes active in the agricultural, forestry, fishery and aquaculture sectors affected by the price increases for electricity, animal feed and fuel caused by the war.
The commission said that the scheme is in line with the Temporary Crisis Framework, in that aid will not exceed €35,000 per beneficiary active in primary production in the relevant sectors and will not exceed €400,000 per company in all other sectors. Read More...
