Compensation for the Guarantee Fee to Entities in the Fisheries Sector
Who is eligible?
Part of the guarantee fee is compensated for to entities in the fisheries sector which, from 1 January 2015, are taking loans from financial institutions or purchasing production equipment and/or installations under leasing agreements with INVEGA‘s guarantee for investment projects on production, processing and/or marketing of fisheries and aquaculture products.
Part of the guarantee fee is compensated for to small and medium size enterprises in the fisheries sector that are not in difficulty as defined in Article 3(5) of Regulation (EU) No 1388/2014.
80% of the guarantee fee is compensated. Entities in the fisheries sector pay only the non-compensated share of the fee for the granting of the guarantee.
The total amount of de minimis aid to an entity operating in the fisheries sector during the current year and any period of three fiscal years may not exceed EUR 30,000.
Compensation terms and conditions
Compensation for the guarantee fee is granted if the entity is pursuing any of the following objectives with its investment project and purchase of production equipment and/or installations:
- enhancing quality and value of fishery and aquaculture products;
- developing or implementing new or substantially improved products and equipment;
- increasing energy efficiency, improving and modernising aquaculture farms including improvement of employees‘ working conditions and safety at work;
- reducing the adverse impact or increasing the positive impact on the environment.
No compensation for the guarantee fee is paid to entities operating in the fisheries sector that take loans from financial institutions for investment projects and/or purchase equipment and/or installations for which assistance is provided 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.
To receive a compensation for the guarantee fee, an entity must submit to the financial institution, together with documents on the guarantee:
- An application for compensation for guarantee fee (annex to the Guarantee Application Form).
The application for the partial guarantee fee compensation is submitted together with the Guarantee Application Form:
The Rules approved by order of the Minister of Agriculture of the Republic of Lithuania No 3D-161 of 12 April 2007 govern the provision of de minimis aid by compensating part of the guarantee fee to entities in the fisheries sector that are taking loans from financial institutions for investment projects or purchasing production equipment and/or installations under leasing agreements with INVEGA‘s guarantee. The Rules were formulated in accordance with Commission Regulation (EU) No 717/2014 of 27 June 2014 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid in the fishery and aquaculture sector.