The European Commission has approved a total of 80m euros for the agricultural and fish farming sectors of Italy, Finland and Greece, the institution said. The schemes are allowed under the terms of the temporary framework for state support of the economy during the COVID-19 epidemic. Two schemes have been approved for Finland, worth a total of 40m euros. Most of the 30m euros go to agriculture and the remaining 10m euros to companies in the fish and aquaculture sector.
Funding will take the form of a direct grant. The purpose of the schemes is to help businesses deal with the liquidity problems caused by the coronavirus epidemic by covering salaries, rents and other vital activities for companies. The funds approved for Greece amount to 10m euros under a state aid scheme for flower production. Support will be available for any size of enterprise. These funds will also be provided in the form of a direct grant to meet the liquidity needs of the business. The scheme approved for Italy amounts to 30m euros. It is intended for small and medium-sized enterprises in the agriculture and fish farming sector that are experiencing difficulties during the COVID-19 epidemic. It will provide interest-free loans of up to 30,000 euros per company. Funding will go through the state Institute for Agricultural and Food Market.