Brussels, 30/11/2000 (Agence Europe) - The European Commission has approved a State aid scheme in Spain in favour of industrial development and technical modernisation on the Canary Islands, for some 60 million euro for the 2000-2006 period. The beneficiaries are mainly small and medium-sized enterprises. A Commission press release, stipulates: "Under the scheme, grants can be provided for up to 50% of eligible cost in investment, product and systems development and improved quality control. The Commission took into consideration that the Canaries are eligible to the derogation provided for in Article 87 (3a) in accordance with the Spanish regional aid map the Commission has approved for 2000-2006. The Commission also noted that the aid complies with the respective Community guidelines for regional aid and aid for SMEs and with the framework of State aid for Research and Development. The Commission therefore decided not to raise objections to the aid".