The President of the Government of the Azores announced today the approval of more than 250 investment projects in agriculture. They were part of a total of 300 projects submitted under the previous Community Support Framework, which were transferred to the current financial programming by the Regional Government.

Vasco Cordeiro revealed that these investment projects represent over 26.5 million Euros in support to private investment. The support will be readily available for businesspeople in the regional agricultural and agro-industrial sectors as soon as the European Union approves the PRORURAL+ programme. The financing contracts have already been sent to beneficiaries.

"Of the total number of projects approved, over 170 cover the modernisation of farms, representing an investment exceeding 15 million Euros; over 40 are intended to support the installation of young farmers, corresponding to an investment over 1.5 million Euros; three projects will be developed in the area of processing, totalling nearly 8.7 million Euros," specified the President of the Government. The government official spoke at the opening of the new animal feed mill of Grupo SICOSTA in Lagoa, São Miguel.

For Vasco Cordeiro, the new factory, which the Regional Government supported through PRORURAL, is a "sign of confidence" in the economy and future of the Azores, stressing that "confidence is a key asset to positively respond to the challenges we are facing."

"We believe in Azorean businesspeople and encourage their sustained confidence in our capacity to overcome challenges and building together our future," said Vasco Cordeiro. In this context, the President of the Government assured that the Regional Government supports this "will to search for solutions that generate added value and jobs, through the strategic channelling of funds for the measures that contribute to the modernisation and innovation of our manufacturing processing plants, either in the milk sector or in the meat sector."

In his speech, Vasco Cordeiro also stressed the positive response that the agricultural sector has always provided throughout the years, pointing out it "as an example of how public and private entities can do more and better for the development of our land in a spirit of partnership and a strong sense of commitment."

In this regard, the President of the Government reminded the measure created to support the installation of young farmers, which exceeded expectations; the same has happened with the application submitted to support measures for the modernisation of farms, which also far exceeded expectations.

Even though the regular payment period of support measures regarding the previous Community Support Framework is still taking place, as in accordance with the official payment calendar that will be extended to mid 2015, Vasco Cordeiro announced that "the payment of over 7.5 million Euros in Measures for the Maintenance of Agriculture in Less Favoured Areas under PRORURAL was anticipated to this week."

 "The figure corresponds to 75% of direct aid, being the maximum amount allowed by European regulations. The respective payment would only be made by the end of year, if not for the decision taken by the Government of the Azores," stressed the President of the Government.    

On the other hand, Vasco Cordeiro pointed out that, in the end of October, the Government will "anticipate agri-environment payments in about two months, which correspond to an amount of nearly 6.5 million Euros."

"The work we have developed in partnership in the agricultural sector is never a completed task. There are always new challenges in this sector, which will be easily overcome with a coordination of efforts between all entities that are directly or indirectly involved in it and depend on it," said Vasco Cordeiro.

"The Government of the Azores is ready to take up its role with the aim of creating the conditions to reduce costs of production, processing and marketing of our products as well as of supporting our agricultural sector and our agricultural industry," assured the President of the Government.

"Much has been done, but there is still much to do. The challenges we face require from all of us a vigorous and sustained response. In fact, they require our commitment to give our best," the President of the Government stressed, adding that Azorean "agriculture and agri-industry are stronger today and, thus, better prepared to face challenges. They are also irreplaceable partners of the Government in the path of development and progress we want continue following."