Commission to support conversion of Italian steel industry
The European Commission is to support the economic conversion of former steel-making areas in Italy with Community aid of ECU 85.601 million. This aid is being provided under the Community RESIDER initiative and will benefit in particular the regions of Campania, Apulia, Piedmont, Valle d'Aosta, Lombardy, Friuli-Venezia Giulia, Liguria, Tuscany and Umbria. The total value of the RESIDER initiative in Italy is ECU 505.581 million, with 22% of the balance coming from national public expenditure, and 61% from private investment. The resources available under the initiative, which will run until 1997, have been concentrated on a limited number of priority fields, namely: - Improving the environment in areas seriously degraded by steel-making activities; - Renewing and modernizing economic and social infrastructures in steel-making areas; - Constructing new industrial buildings and intermediate premises; - Promoting new economic activities, in particular the creation and development of small businesses, and encouraging innovation; - Assistance for promoting tourism activities, in particular those based on the industrial heritage; - Interest rebates on loans from the ECSC, EIB and the national banking system for investment in small businesses.
Countries
Italy