The European Commission approved a scheme of Romania worth about 164 million euros (815.5 million lei) for assistance of the primary agricultural production sector in the context of Russia’s war against Ukraine. The scheme was approved under the Temporary Framework for State Aid in Crisis and Transition, adopted by the Commission, to support measures in sectors that are key to accelerating the green transition and reducing fuel dependencies.
Under the scheme, the aid will consist of limited aid in the form of interest rate subsidies on loans. The measure will be open to agricultural producerswhich are at risk of losing financial liquidity due to the difficulties in the agricultural market provoked by Russia’s war against Ukraine.
In particular, under the Romanian scheme, the aid will not exceed EUR 280,000 per beneficiary; and will be granted no later than 30 June 2024. The Commission has concluded that the scheme is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State.
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