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Ponta Delgada ,  July 01, 2014

Regional Government maintains incentive scheme that has enabled farmers to purchase 1,400 hectares of land

The Regional Secretary for Natural Resources stressed today the importance of "collaborating" with banks for the renewal of the lines of credit supported by the Azorean Government. This measure has enabled farmers to purchase about 1,400 hectares of agricultural land.

"In a few years, we have already restructured approximately 1,400 hectares of land," stressed Luís Neto Viveiros at the signing ceremony of protocols between the Regional Institute of Agrarian Planning (IROA) and credit institutions under the Incentive Scheme for the Purchase of Agricultural Land (RICTA). The government official added that this restructuring project represents a "global investment of nearly 18.5 million Euros," which corresponds to three hundred applications.

In his speech, Luís Neto Viveiros assured the "continuity of a very important tool for the restructuring of farms."

RICTA is exclusively subsidised by regional funds. It is only of its kind to be implemented at a national level. This programme replaced in 2008 the Credit Support System for the Purchase of Land (SICATE), established in 2000.

For the Regional Secretary, the fact that scheme is only available in the Azores "clearly evidences the Regional Government's goals to improve competitiveness" of farmers, taking into account their size and the dispersion of plots.

The aim of this measure is to foster the restructuring of farms by supporting the acquisition of land for reparcelling projects.

In addition to the subsidisation of the interest rate on the loans agreed with banks for the purchase of land, this measure also provides the allocation of a non-repayable subsidy on the amount of remedial evaluation.

Tenants, co-owners and owners of enclosed and adjacent land plots wishing to acquire or exchange the respective land plots through a subsidised interest rate are eligible beneficiaries to RICTA.
BES - Açores, Caixa de Crédito Agrícola Mútuo dos Açores, Caixa Económica da Misericórdia de Angra do Heroísmo and Caixa Económica Montepio Geral were the first banking institutions to renew their protocols under the Incentive Scheme for the Purchase of Agricultural Land.


Official government press-releases presented in all foreign languages interfaces of the Azorean Government Portal (Portal do Governo dos Açores) are a sub-set of the government's official press-releases daily output and are chosen for translation and publication on the foreign language interfaces based on audience segmentation criteria. The entire collection of the Azorean government press-releases is available in portuguese, here, from the GACS Press Office site.

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