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Press Conference of the Shipping Deputy Ministry regarding a state aid scheme for coastal vessels (de minimis)

On Monday 21st of October 2019, the Shipping Deputy Ministry organised a press conference at the Shipping Deputy Ministry offices in Limassol aimed to inform the public about the state aid scheme for coastal vessels (de minimis).

During the press conference in Limassol, the Shipping Deputy Minister Ms Natasa Pilides, presented the official Scheme, approved on September 18th by the Council of Ministers.

The specific Scheme aims for the: a) enhancement of the protection of the marine environment b) upgrading of coastal vessels c) further improvement of safety and health conditions for crew and passengers and d) the advancement of accessibility for people with disabilities.

The scheme will be implemented by the Shipping Deputy Ministry for the period 2019-2022 with a €3 million allocated budget (€1m per year). The highest budgetary support given, will not exceed €200.000 per beneficiary, while it will not exceed 60% of the eligible expenses. According to the Scheme, the minimum investment should be at least €20.000.

Beneficiaries of the scheme are physical or legal entities who own coastal passenger vessels engaged in the coastal passenger industry for no less than three years during the last seven years, with at least 60 trips per high-season (from April to November).