site.btaEuropean Commission Okays Bulgaria's EUR 8 Mln Support Scheme for Agricultural Producers Harmed by Russia's War against Ukraine

European Commission Okays Bulgaria's EUR 8 Mln Support Scheme for Agricultural Producers Harmed by Russia's War against Ukraine
European Commission Okays Bulgaria's EUR 8 Mln Support Scheme for Agricultural Producers Harmed by Russia's War against Ukraine
The seat of the European Commission in Brussels (EU Photo)

The European Commission said on Wednesday that it has approved an approximately EUR 8 million (BGN 16 million) scheme to support primary agricultural production sector in the context of Russia's war against Ukraine. The scheme was approved under the State aid Temporary Crisis and Transition Framework, adopted by the Commission on March 9, 2023, to support measures in sectors which are key to accelerate the green transition and reduce fuel dependencies.

Under the scheme, the aid will consist in limited amounts of aid in the form of direct grants. The purpose of the measure is to support agricultural producers that are currently facing liquidity shortages due to the cost increase of water, a key input for agricultural production, and thus ensure food security.

The Commission found that the Bulgarian scheme is in line with the conditions set out in the Temporary Crisis Framework. In particular, the aid will not exceed EUR 250,000 per beneficiary and will be granted no later than December 31, 2023. The Commission concluded that the scheme is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State.

/DD/

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By 02:41 on 19.05.2024 Today`s news

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