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EU OKs State Aid For Portugal’s Agricultural Sector

 |  August 31, 2020

The European Commission has approved a €5 million (US$5.97 million) Portuguese credit line scheme to support SMEs active in Madeira in the agricultural and agri-food sectors, which have been affected by the coronavirus outbreak. The scheme was approved under the State Aid Temporary Framework. 

The public support, which will take the form of subsided interest rates, will be open to small and medium-sized enterprises (SMEs) active in the agricultural and agri-food sectors in the autonomous region of Madeira. The scheme aims at helping the beneficiaries address the liquidity shortages they have suffered due to the coronavirus outbreak. 

The credit line will anticipate producers and companies active in the agricultural and agri-food sectors in Madeira the support provided for in POSEI, the EU’s support program for outermost regions facing specific challenges due to remoteness, insularity, small size, difficult topography, or climate.

Full Content: Europa

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