Brussels, 26 March 2024
The European Commission has approved, under EU State aid rules, a €600 million Italian scheme to foster investments in the fisheries and aquaculture sector.
The aim of the scheme is to promote cooperation and integration between operators in the fisheries and aquaculture sector and to stimulate better market relations. In particular, the scheme will support the development of sectoral contracts, through investment aid which will be distributed among a variety of beneficiaries operating in the different segments of the sector, from production to the processing and the marketing of fishery and aquaculture products.
The scheme will be open to companies of all sizes active in the fisheries and aquaculture sector. Under the measure, which will run until 31 December 2029, the aid will take the form of direct grants and/or subsidised financing.
The Commission assessed the scheme under EU State aid rules, in particular Article 107(3)(c) TFEU, which allows Member States to support the development of certain economic activities under certain conditions, and the Guidelines for State aid in the fishery and aquaculture sector. The Commission found that the scheme is necessary and appropriate to encourage the relevant investments in the fisheries and aquaculture sector. Furthermore, the Commission found that the scheme is proportionate as it is limited to the minimum necessary, and will have a limited impact on competition and trade between Member States. On this basis, the Commission approved the Italian scheme under EU State aid rules.
The non-confidential version of the decision will be made available under the case number SA.109663 in the State aid register on the Commission’s competition website once any confidentiality issues have been resolved.
Source – EU Commission