January 19 (SeeNews) - The European Commission (EC) said on Thursday that it has approved Romania's 44 million euro ($47.6 million) funding scheme that aims to support cattle breeders in the context of Russia’s war against Ukraine.
The aid will take the form of direct grants that will compensate eligible beneficiaries for part of the additional costs incurred mainly due to increases in the prices of fuel, energy and animal feed, and help them overcome difficulties caused by the current geopolitical crisis, the Commission said in a press release.
You can download the 2023 Agriculture industry in Southeast Europe report here
The aid will not exceed 250,000 euro per beneficiary and will be granted no later than December 31, 2023. The scheme was approved under the EC’s Temporary Crisis Framework for State Aid, a set of measures taken to address the economic impact of Russia’s aggression against Ukraine.
In September 2022, the EC announced that it approved a 4 billion euro Romanian funding scheme to support companies in the context of the Russian war on Ukraine.
($=0.9241 euro)