Bulgarian Farmers Received Over BGN 60.3M in State Aid Since Jan 2014

Business | August 7, 2014, Thursday // 15:12
Bulgaria: Bulgarian Farmers Received Over BGN 60.3M in State Aid Since Jan 2014 Photo by BGNES

Bulgarian farmers have received a total of BGN 60.3 M in state aid since the beginning of 2014, according to Tatyana Angelova, Deputy Executive Director of the State Fund Agriculture (SFA).

Speaking Thursday at an international agricultural fair, she explained that a total of 14 state aid schemes worth a total of BGN 84M had been administrated by the Paying Agency since the beginning of 2014.

She noted that the resources under 10 of the schemes had been paid out, adding that the livestock sector had received BGN 58 M, and the plant production sector BGN 2.3 M.

Angelova said that the payment of compensations for lost areas was yet to take place, adding that over BGN 4.370 M were to be allocated to the segment.

Angelova said that a total of 51 loans worth a total of BGN 14.580 M had been allocated to agricultural workers.

She also made clear that over BGN 15.600 had been earmarked for refinancing 49 bank loans, including ones approved in 2013.

The Deputy Chief Executive of the SFA noted that the interest rate on the loans provided by the Agency amounted to up to 7% and it was fixed for the entire 60-month period.

She reminded that the limit on loans taken by farmers was increased to the level of BGN 1 M in 2014.

Angelova emphasized that the schemes allowed a large number of applicants to implement the projects which had been approved, adding that it would contribute to an increase in the absorption rate under the Rural Development Program.

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Tags: State Fund Agriculture, SFA, state aid, agricultural land, agricultural subsidies
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