EU-Italy: EC OK's 2.66-bln-euro aid for farm quake relief

Recovery package for Emilia Romagna, Lombard, Veneto agriculture

19 December, 15:15

(ANSAmed) - BRUSSELS, DECEMBER 19 - The European Commission on Wednesday gave Italy the green light to extend 2.66 billion euros in aid to farms and food processing plants in Emilia Romagna, Lombardy and the Veneto region, which were hit by an earthquake in May 2012. The measure, which includes compensation for material and economic damages, is aimed at ''returning stricken businesses to their state prior to the natural disaster, allowing them to pick up where they left off without giving them an unfair advantage,'' the Commission made known.

The measure is ''compatible with EU norms on state agricultural aid, and will include direct subsidies, low-interest loan financing, guarantees and assisted financial leasing,'' the Commission said. (ANSAmed).

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