Agrifood: €60 million for food industries

Agrifood: €60 million for food industries

Subsidised loans for investment programmes as part of supply chain and district contracts; partnership with CDP to support the growth of Italian agrifood

Roma, 5 December 2016

A fund of €60 million has been made available for measures to support agrifood industries. The Interministerial Committee for Economic Planning (CIPE) has assigned the funds for use in supply chain and district contracts, designed to encourage integration in the agricultural system and the growth of agrifood companies.

The funds are in the form of a non-repayable grant available for use in supply chain and district contracts that access the new initiative, in line with the previous iteration in 2013. For this same purpose €200 million have already been allocated to the Revolving Fund to support Enterprises and Research Investment (FRI), which will be disbursed as subsidised loans.

The initiative marks a fresh boost for the sector, as the CDP Group looks to develop the industry with a clear strategy: businesses operating in the food industry are important for the economic growth of Italy. According to forecasts, thanks to these new funds around 25-30 industry/district contracts and 150 farms and agrifood businesses will receive financing.

The launch of the initiative by CDP, having signed the Agreement with the Ministry of Agriculture, Food and Forestry Policies, will take place in parallel to a special ministerial call for funding applications, opening the door for submissions by businesses.