Agriculture Ministry to run INVESTALIM programme to boost domestic production of food.
The Ministry of Agriculture and Rural Development (MADP) has put up for publicdebate a bill for the application of a multi-annual national programme, INVESTALIM, the years 2023 - 2026, for the development and modernisation of the domestic food industry through financial support to boost the domestic production of foodstuffs, told Agerpres.
According to a MADR press release, the INVESTALIM programme will be run by MADP through the Rural Investment Financing Agency (AFIR). The maximum budget of the programme in 2023 - 2026 is RON 2.9 billion, roughly EUR 600 million.
Under INVESTALIM, regional state aid will be granted to support investment in the acquisition of assets for new facilities, the expansion of the capacity of existing facilities, the diversification of production through the manufacturing of new products.
The investments under INVESTALIM will have to cumulatively meet the following main criteria: have a total value of at least RON 2.5 million, VAT excluded, roughly EUR 500,000; prove economic efficiency and viability throughout the implementation of the investment projects plus and additional five years from the date of its completion; meet established quantitative and qualitative indicators; generate contributions to regional development by paying fees and taxes to the consolidated national budget and local budgets, for the period of the investment's implementation and for another five years after completion; generate a quantifiable multiplier effect in the economy by attracting other related investment and developing local suppliers of products and services. Also, the applicant is under an obligation to keep the initial investment running for at least five years of completion.
Qualifying for the programme are business operators as defined under Law 31/1990. They have to cover at least 25% of the total costs of the investment project from their own resources in a form that is not subject to any other public aid.
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