Compensation for interest to entities operating in the fisheries sector
Who can apply?
Part of the loan interest is compensated for entities operating in the fisheries sector that receive, from financial institutions, loans or leasing services to enable them to purchase production installations and/or equipment with INVEGA‘s guarantee under investment projects on the production, processing and/or sale of fisheries and aquaculture products.
Part of interest is compensated to small or medium entities in the fisheries sector that are not undertakings in difficulty as defined in Article 3(5) of Regulation (EU) No 1388/2014.
The application for the interest compensation is submitted together with the Guarantee Application Form:
30% of interest paid on a loan and/or leasing services for a period no longer than 36 months from the date of signature of the loan/leasing agreement is compensated.
The maximum annual interest rate for the purposes of determination of the compensation: 4%.
The total amount of de minimis aid per fisheries undertaking during any period of three fiscal years may not exceed EUR 30,000.
Compensation terms and conditions
The interest compensation is granted if the acquisition of production installations and/or equipment financed by a loan or leasing services under an investment project has one or more of the following aims:
- Increasing quality and value of fisheries and aquaculture products;
- Developing or introducing new or substantially improved products and equipment;
- Increasing energy efficiency, improving and modernising aquaculture farms including improvement working conditions and safety at work for employees;
- Reducing negative impact or increasing positive impact on the environment.
Cases when financing cannot be granted
Compensations for interest are not paid to entities in the fisheries sector that receive loans and/or leasing services from financial institutions for investment projects under measures of the Operational Programme of the Lithuanian Fisheries Sector for 2014-2020 approved by Decision of the European Commission No C(2015)5897 of 17 August 2015.