#StateAid: Commission approves €44 million Italian scheme to support economic recovery in regions affected by earthquakes in 2016 and 2017

The European Commission has found a €43.9 million Italian aid scheme to support investments in regions affected by earthquakes in 2016 and 2017 to be in line with EU State aid rules. The aid will contribute to the economic recovery of central Italy without unduly distorting competition in the Single Market.

In 2016 and 2017, four major earthquakes hit central Italy, affecting around 600,000 people in an 8,000 km² area. Today, the region is still being affected by abnormal seismic activity, leading to a progressive desertification of the affected areas. This is unlikely to be addressed by compensation measures alone. The Italian aid scheme approved today aims at complementing such measures, to mitigate the economic and social damages in the areas which have been affected by i) a significant drop of GDP, ii) a substantial loss of employment, iii) a reduction of economic activity by more than 50%, and iv) a significant decline in companies' turnover compared to pre-earthquakes levels.

This concerns 140 municipalities in the Italian regions of Lazio, Umbria, Marche and Abruzzo.

Commissioner Margrethe Vestager, in charge of competition policy, said: "The people and economy of Central Italy are still recovering from the dramatic effects of several earthquakes over recent years. The Italian authorities want to support this recovery with a measure contributing to the economic recovery of these areas. We found this measure to be well targeted to support affected businesses and the people living in these regions."

A full press release is available in IT, EN, FR, DE.

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