The Ministry of Development and Investment has published the announcement of the first round of the aid regime “Agrifood – primary production and processing of agricultural products – fisheries – aquaculture” of the new development law 4887/2022.

The purpose of the scheme is to strengthen entrepreneurial activity in the field of primary agricultural production and processing of agricultural products.

According to the published Official Gazette, the total budget of the scheme for 2022 is €150,000,000, of which €75,000,000 is for tax exemption support. The remaining 75,000,000 euros are related to grant support, rental subsidies and subsidies for the cost of created jobs and come from the public investment budget of the Ministry of Development and Investment.

The minimum acceptable cost of investment projects is:

a) EUR 1,000,000 for large companies.

b) 500,000 euros for medium-sized enterprises.

c) EUR 250,000 for small businesses.

d) EUR 100,000 for a very small business.

e) 50,000 euros for social cooperative enterprises (SOEs) as well as agricultural cooperatives (AS), urban cooperatives, producer groups (POs) and agricultural cooperative partnerships (AES).

Assistance rates reach up to 75% of the approved budget, depending on the size of the business and the location of the investment.

The submitted investment plans must be of the nature of an integrated initial investment and, in particular, meet one of the following conditions:

– Create a new module.

– Expansion of capacities of the existing division.

Applications for the promulgation of a new development law before the end of the year.

– Diversification of the unit’s output into products it never produced or services it never provided.

– A fundamental change in the entire production process of the existing installation.

As stated in the published announcement, investment projects that are eligible for support:

a) Primary agricultural products represented by very small, small and medium-sized enterprises and included in the net. 92195/27-09-2022 Joint Decision of the Minister with the Deputy Minister of Rural Development and Food and the Deputy Minister of Development and Investment “On determining the types of investment projects in the field of primary agricultural production of micro, small and medium-sized enterprises (SMEs) with a maximum amount of assistance up to 500 000 euros per investment project and per company, which may be subject to the assistance regimes of Law 4887/2022 and specifications, additional conditions, restrictions and conditions, as well as any topical issue to assist investment projects in this sector.”

b) Processing of agricultural products, i.e. any operation with agricultural products, which also results in agricultural products, with the exception of operations within the agricultural holding necessary to prepare animal or plant products for their first sale, and are included in under no. 92172/27-09-2022 joint decision of the Minister and Deputy Minister of Rural Development and Food and Deputy Minister of Development and Investment “On the determination of special conditions, conditions, specifications and restrictions for the inclusion of investment plans in the assistance schemes of Law 4887/2022 of the agricultural processing sector, as defined in paragraph 10 of article 2 of law (EC) no. 651/2014 committee”.

c) primary agricultural production in item a and processing of agricultural products in item b, which can be presented in the investment plan with two separate units that are implemented in one regional unit and are part of a vertically integrated unit. .

d) the primary agricultural production of an area and their processing, not necessarily the result of an intervention in the agricultural product, which may be in an investment project with two separate units that are implemented in the same regional unit and are part of a vertically integrated unit.

It should be noted that this announcement does not provide an opportunity to increase the business activity of fisheries and aquaculture.

Applications are submitted through the Development Law Information System (PS-Av) at the online address (https://opsan.mindev.gov.gr).

The full text of the announcement and detailed information can be found on the new website of the General Secretariat for Private Investments and PPPs https://ependyseis.mindev.gov.gr/el/idiotikes/prokirikseis.

Applications are accepted until 12/30/2022.

* Ms. M. Paspalari is the Managing Director of AMBIO SA.