Relaunched by Ismea, “Land Generation”—the land-focused instrument designed to facilitate access to farmland for younger generations and support generational renewal in agriculture—has confirmed its success.
Following the close of the application period, Ismea received exactly 256 applications. Funding requests total over €115 million, against a total budget of €120 million.
The measure had a budget of €120 million and was aimed at individuals under the age of 41 who were already active in the agricultural sector or wished to launch a new agricultural business.
Specifically, the “Generazione Terra” initiative involves the purchase of land by Ismea and its simultaneous allocation to young applicants; the resulting debt is to be repaid via a loan featuring a two-year grace period and a maximum total term of 30 years.
Beneficiaries already active in agriculture have access to credit of up to €1.5 million, while those entering the sector for the first time have up to €500,000 available—supplemented, however, by a €100,000 “first-establishment” grant applied to reduce the initial repayment installments.
Title: Land Generation, a business for young people
Translation with Google
