EU to fund economic development in Siracusa, Sicily
The European Commission will provide ECU 25 million from the European Regional Development Fund (ERDF) to Siracusa, Sicily, to relieve the serious social and economic problems facing the area. Major local firms, particularly in the chemicals sector, have been hit by crisis in recent years. The funding is mainly intended for small businesses and should create some 300 jobs. Money will go towards investment in these companies through an aid scheme, collective business promotion measures and non-financial services linked to business development. The Community funding will be matched by ECU 4 million from the Italian state and ECU 21 million from the private sector. The aid programme will be administered by a local public/private intermediary CO.SVI.S. SpA.
Countries
Italy