The European Commission has approved a €180 million scheme to support Italian companies in the agriculture, forestry, fishing and aquaculture sectors.
The scheme has been devised by the Italian government in response to the ongoing impact of Russia’s invasion of Ukraine.
The scheme was approved under the State Aid Temporary Crisis Framework, adopted by the commission on March 23 2022.
Under the scheme, the aid will consist of limited amounts of aid in the form of guarantees on loans.
It aims to address the liquidity needs of companies and to help them overcome difficulties linked to increases in the cost of energy and other inputs due to the current geopolitical crisis.
The commission said that the Italian scheme is in line with the conditions set out in the Temporary Crisis Framework.
This means that the aid will not exceed €35,000/beneficiary and will be granted before December 31, 2022.
On Monday (June 20) the commission gave approval for a €3.9 million scheme to support the beef, poultry and horticulture sectors in Estonia.
The scheme was also approved under the State Aid Temporary Crisis Framework against the backdrop of the ongoing war in Ukraine.
The framework recognises that the EU economy is experiencing a “serious disturbance”.
The measure will be open to companies of all sizes active in the beef, poultry and horticulture sectors in Estonia that have been affected by the price increase of electricity, animal feed and fuel caused by the current geopolitical crisis and the related sanctions.