The sustainable recovery of the Italian economy will be driven by 1.7 billion euros in state aid. The European Commission has approved an Italian 1.7 billion euros scheme to support investment in sustainable recovery. The measure will be financed both from the national budget and from the resources made available through the Resilience and Recovery Facility. The aid will take the form of direct grants and loans at below-market interest rates. Public support will be used to finance investments in tangible and intangible assets that can facilitate the development of certain economic activities important for economic recovery, in particular:
- development contracts to support large-scale investments related to industrial, tourism and environmental protection activities;
- renewable energies and batteries;
- electric and related vehicles;
- relaunching the areas affected by the industrial crisis.
Italy will ensure that all the investments financed are environmentally sustainable and that the aid does not therefore support activities that violate the principle of "not causing significant damage". The amount of individual aid will in principle not exceed 10 million euros per beneficiary. Between 100 and 500 companies are expected to benefit from the scheme.