The EU proposes to mobilize 430 million EU funds to support the agricultural sector

By: STA Date: 2023. 06. 26. 09:45

The European Commission proposes to mobilize 430 million euros in EU funding for European agricultural producers affected by adverse climate phenomena, high input costs and various market and trade problems, the Brussels body announced on Monday.

(Photo: Pixabay)

The new support package provides 100 million euros for five member states neighboring Ukraine, as producers in these countries face logistical and sales problems following the large-scale import of Ukrainian grain. According to the agreement of the agriculture ministers of the EU member states on Monday, 15.93 million euros will be available for Hungary, 9.77 million euros for Bulgaria, 39.33 million euros for Poland, 29.73 million euros for Romania and 5.24 million euros for Slovakia.

The remaining 330 million euros will be distributed among the other 22 member states

Payments for both support packages must be made by the end of this year. The Member States concerned must notify the Commission of the details of the implementation of the measures, the conditions determining the distribution of the aid, and the precautions taken to avoid distortion of competition and overcompensation. In addition to direct financial support, the board also recommends allowing larger advance payments of common agricultural policy funds. Up to 70 percent of direct payments, as well as 85 percent of rural development payments related to animal husbandry, could be made available to farmers from mid-October in order to improve their cash flow situation.

MTI