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Wednesday, March 29, 2023

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Two billion from Mise for development contracts, with aid to those who reduce consumption

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Euro splash, now worth less than a dollar (ANSA)

The Minister of Economic Development, Giancarlo Giorgetti, signed the decrees on the strengthening of development contracts for companies. One defines the destination of 2 billion to finance 101 projects, 80% to be carried out in the South and 20% in the Center-North, as required by European legislation. The other applies the provisions of the temporary framework adopted by the EU Commission to development contracts. Based on this, explains the Mise, industrial investments will be facilitated that aim at reducing direct greenhouse gas emissions by at least 40% or at least 20% of energy consumption.

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With the first decree it was therefore defined the destination of the 2 billion euros of the Fund for development and cohesion (FSC 2021-2027), assigned by Cipees to Mise, to finance a further 101 projects. In particular, 1.5 billion euros are dedicated to applications for development contracts already submitted with the ordinary procedure, while 500 million euros will finance new projects for industrial revitalization. To these resources are added those allocated by the Government in the ‘Aid bis’ decree: 40 million in 2022, 400 million in 2023, 12 million for each year from 2024 to 2030, with the aim of unlocking further projects. The provision also introduced simplifications, in order to speed up the administrative procedure for granting concessions to businesses (fast-track).

“We have seen that development contracts have a positive and highly productive impact on our industry”Giorgetti said. “For this reason, as Mise invested a lot in this instrument, asking for refinancing several times. Development contracts – he added – set in motion a virtuous path that sees the multiplication of private investments encouraged by financial concessions with positive repercussions also for public finance . I believe that development agreements, also in the future, represent a fundamental path for our economy and for the innovation of the Italian industry which can become increasingly competitive “.

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In support of the economy and the productive fabric of the country, which have been affected by the impact of the conflict in Ukraine, Giorgetti has also signed the decree that applies the provisions of the temporary framework to development contracts. In particular, industrial investments will be facilitated that pursue one of the following objectives: the reduction of at least 40% of direct greenhouse gas emissions, through the electrification of production processes or the use of renewable hydrogen and electrolytic hydrogen as a replacement of fossil fuels, or the reduction of at least 20% of energy consumption in relation to subsidized activities. A subsequent ministerial provision, the Mise also announced, will establish the terms for submitting applications.

“I am satisfied with the further result obtained in favor of the companies damaged by the effects of the war that will now be able to count on other measures that facilitate programs and innovations for environmental protection”, underlined Giorgetti. “By joining forces and using the tools available in a different way, we are able to better support our industry in a particularly difficult period, caught between the negative effects of the conflict in Ukraine and expensive energy”, concluded the minister.

Source: Ansa

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