November 18 (SeeNews) - The European Commission (EC) said on Friday that it has approved a 200 million euro ($207.5 million) Romanian funding scheme to support processors of agricultural products, in the context of Russia's war against Ukraine.
The aid will be disbursed by the end of 2023 in the form of direct grants, the EC said in a press release.
You can download the 2023 Agriculture industry in Southeast Europe report here
The measure will be open to operators of the milling industry, oils and fats, dairy products and animal feed preparations.
The purpose of the scheme is to provide liquidity to the eligible beneficiaries, which are heavily affected by the current geopolitical crisis and the consequent increase of energy and other input costs.
Each beneficiary will be able to access up to 2 million euro.
The scheme was approved through the the state aid Temporary Crisis Framework, which was adopted by the EC in March.
The framework is part of the coordinated economic response of EU member states and EU institutions to mitigate the immediate social and economic negative repercussions of the Russia-Ukraine war.
($=0.9636 euro)