NORWAY: communal subsidies to aquaculture

Fish famers in North Norway are experiencing difficulties in getting the money needed to purchase licenses for farming salmon. The price for such a license is NOK 8 million, except in Finmark , where the price for a license is NOK 3 million (see my post of 30 November 2009).

In the commune of Ballanagen, the local authorities have decide to grant a “soft loan” (interest free) amounting to NOK 400.000 to Ballangen Sjøfarm. The reimbursement of the loan will start after two years after the payment to Ballangen Sjøfarm with 5 years to effect the reimbursement.

Here is a link to a press article on this (in Norwegian):

http://www.fremover.no/lokale_nyheter/article4270381.ece