EC approves Bulgaria's 36 mln euro scheme for support of Covid-hit agri companies

EC approves Bulgaria's 36 mln euro scheme for support of Covid-hit agri companies

The European Commission (EC) said on Wednesday that it has approved under the State aid Temporary Framework Bulgaria's 36 million euro ($41.8 million) scheme for support of its agricultural sector affected by the coronavirus outbreak.

"The Commission found that the Bulgarian scheme is in line with the conditions set out in the Temporary Framework. In particular, the aid will not exceed 225,000 euro per beneficiary and will be granted no later than December 31, 2021," the EC said in a statement.

The Commission also said that the measure is necessary, appropriate, and proportionate to remedy a serious disturbance in the economy of the member state.

Bulgaria-based farmers breeding large and small ruminants, beekeepers, and fruit and vegetable growers, will benefit from direct grants under the scheme, the EC said

"The measure aims at mitigating the liquidity shortages that the beneficiaries are facing due to the coronavirus outbreak and the consequent production costs increase," the EC added.

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