Press Release: Commission approves financing for inter-island maritime transport in the Azores

The European Commission gave its agreement to a Portuguese aid scheme that aims to promote regional development in the Autonomous Region of the Azores. The so-called SIDER ('Sistema de Incentivos para o desenvolvimento Regional dos Açores') focuses on four areas of action: local development, the tourism sector, promotion of quality and innovation and strategic projects for regional development. The scheme covers the period of 2007 to 2013. The estimated annual budget for the maritime sector will not exceed €5 million.

• Primary Source