(Finance) – The European Commission has approved, under EU state aid rules, a Italian plan worth 450 million euros to support the agricultural sector encouraging investments linked to primary agricultural production, as well as the processing and marketing of agricultural products.
The scheme will be open to companies active in primary agricultural production and in the processing and marketing of agricultural products in Italy. Under the measure, which will last until 31 December 2025, aid will take the form of subsidized loans and will cover up to 80% of eligible costs.
The purpose of the scheme is to strengthen the competitiveness and resilience of the sector agricultural, promoting projects related, among other things, to the construction, acquisition or improvement of real estate; the purchase of machinery and equipment; to the purchase, development or use of IT solutions.