EC Grants 86.9 Million Euros to Bulgarian Farmers Amid Ukraine Conflict

Business » INDUSTRY | March 25, 2024, Monday // 14:33
Bulgaria: EC Grants 86.9 Million Euros to Bulgarian Farmers Amid Ukraine Conflict

In response to the ongoing war between Russia and Ukraine, the European Commission has greenlit a significant aid package for Bulgarian farmers, totaling approximately 86.9 million euros (equivalent to 170 million leva). The scheme aims to provide essential support to farmers facing financial hardships due to market disruptions caused by the war.

The approved scheme falls under the Temporary Framework for State Aid in Crisis and Transition, initially established by the Commission in March 2023 and later amended in November 2023 to address challenges posed by the green transition and reduce reliance on traditional fuels.

Under this initiative, farmers in key agricultural sectors such as livestock, beekeeping, fruit and vegetable cultivation, oil rose production, wine, and tobacco will receive direct grants to mitigate the risk of financial instability. Eligible beneficiaries facing liquidity challenges as a result of market difficulties stemming from the conflict will be able to access limited financial assistance.

Each beneficiary will receive support capped at a maximum of EUR 280,000, with disbursements expected to be completed by June 30, 2024. The Commission has underscored the necessity and appropriateness of the scheme, deeming it essential to address the economic challenges faced by a Member State under Article 107(3)(b) TFEU and the conditions outlined in the Temporary Framework for Crisis and Transitional Measures.

Following the approval, the non-confidential details of the decision will be made available on the Commission's competition website under registration number SA.112734, pending resolution of any confidentiality issues.

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Tags: European Commission, Bulgaria, farmers, Ukraine

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