The Government of the Azores approved the granting of financial incentives for around thirty private companies of the Region to be applied in the implementation of diverse investment projects in the islands of São Miguel, Terceira, Graciosa, Pico and Faial. 

These incentives, approved on Wednesday and granted through the Subsystem for Supporting Local Development, of the System of Incentives for the Regional Development of the Azores (SIDER), will make possible private investments in the order of 15 million euros. 

The new  SIDER support programme, which started in April of 2008, has already financed investment projects in all islands of the Azores, with the exception of Corvo island, reaching a figure of 115 million euro, benefiting 140 private investment projects.  

With regard to local development funds, around one hundred applications for funding were approved Wednesday,
reaching a total figure in the order of 55 million euros.