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Agriculture, forestry and fishing: 1,2 billion EU aid is on the way to Italian companies

The Italian scheme approved by the European Commission will allow to support the sectors affected by the increase in the costs of production factors caused by the Russian invasion of Ukraine and the related sanctions

Agriculture, forestry and fishing: 1,2 billion EU aid is on the way to Italian companies

First the pandemic and climate change, then the war in Ukraine and the sanctions against Russia have brought several sectors to their knees, especially agriculture and the food industry which in the near future will be marked by scarcity and rising prices. For this reason, the European Commission has approved a Italian framework scheme with 1,2 billion euros of aid a of agriculture, forestry, fishing and aquaculture. The green light, according to a note, comes in the context of the temporary crisis framework for state aid, adopted by the Commission last March, which recognizes how the EU economy is undergoing a serious disturbance and which it considered the Italian regime "necessary, adequate and proportionate" to obtain such aid.

In particular, the aid will not exceed ceiling of 35 thousand euros for beneficiaries active in primary production in the agriculture, forestry, fishing and aquaculture sectors and 400 thousand euros for companies operating in all other sectors "affected by the increase in electricity, feed and fuel prices caused from the current geopolitical crisis and the related sanctions”, underlined Margrethe Vestager, Vice-President of the Commission in charge of Competition. And they will be granted by December 31, 2022.

The aid, of a limited amount, will be received in the form of direct grants; tax or payment benefits; repayable advances; and reduction or exemption from the payment of social security and welfare contributions.