Brussels, 26/11/2003 (Agence Europe) - On Wednesday the European Commission adopted a new framework for aid to shipbuilding innovation. The new rules replace the 29 June 1998 Shipbuilding Regulation, which expires on 31 December. The new framework contains a definition of the concept of “innovation” tailored to the special needs of the shipbuilding industry and even takes into account specific aspects that distinguish ship building from other sectors. In order to take into account these aspects, rules supporting innovation have been planned as well as specific dispositions for aid for closures and for export loans for development. Therefore, with regard to necessary investment spending to fund innovative aspects of a project, the maximum intensity of State Aid has been increased from 10% to 20%. Therefore, a project that is truly innovative, can, thanks to this measures, benefit from higher funding than before. EU Competition Commissioner Mario Monti declared: "This framework, in providing more favourable conditions than ever before for the funding of innovative research and development, recognises the high-tech content in shipbuilding.”