Funding on the way for agricultural businesses, here’s who is eligible and how to apply
Sustainable Financial Support for Agricultural Companies
A recent allocation of 11 million euros aims to provide financial aid to agricultural companies in Sicily, encouraging diversification of activities to boost income.
The ultimate goal is to ensure that individuals working in this sector achieve incomes comparable to other entrepreneurial activities, providing sufficient support for livelihoods.
Special regulations are in place to promote activity diversification within the sector.
Eligibility Criteria and Application Process
The financial assistance targets those who opt to enhance and diversify their agricultural operations by establishing educational farms, agritourism facilities, social agriculture initiatives, and processing products for direct sale at on-site stores (short supply chain).
This strategy, facilitated through various grants, enables companies to generate annual revenue.
Most agricultural businesses experience seasonality, but expanding activities allows for year-long income streams.
The funding initiative also aims to enhance the appeal of rural areas while addressing depopulation trends.
Applications for the fund can be submitted starting from July 25, 2024, until November 13.
Eligible participants include agricultural entrepreneurs, both individual and affiliated, excluding those solely engaged in forestry and aquaculture.
Projects will be funded with up to 65% capital support as a reimbursement for incurred expenses.
Funding Details and Project Scope
The fund, totaling 11.3 million euros for four investment categories, complements resources from the 2023-2027 Common Agricultural Policy (CAP) and falls under the De Minimis Aid category.
Individual businesses may receive a maximum of 200,000 euros over three fiscal years.
Project proposals seeking funding below 20,000 euros or above 200,000 euros will not be considered.
Agricultural enterprises falling below a certain production threshold (equivalent to 10,000 euros in standard production terms) are not eligible for support.
Eligible interventions for the agricultural bonus include building renovations for activities like expanding into agritourism, machinery purchases for product transformation and marketing, website development, installations, and improvements to overcome architectural barriers.
For a comprehensive list of supported projects, interested parties should refer to the official funding guidelines.
Investments must be completed within 24 months of support approval, with justifiable extensions of up to six months permitted.
