March 1 (SeeNews) - The European Commission (EC) said on Friday it has greenlit a Romanian state aid scheme totalling 164 million euro ($177.2 million) aimed at supporting agricultural production in the context of Russia's ongoing war against Ukraine.
The aid was approved as part of the EC's broader efforts to provide support to sectors which are critical to the green transition amidst the crisis, as outlined in the Temporary Crisis and Transition Framework for state aid, the EC said in a press release on Friday.
You can download the 2023 Agriculture industry in Southeast Europe report here
The state aid scheme will offer direct grants of up to 280,000 euro per beneficiary, to farmers facing financial distress due to market challenges resulting from the conflict. All grants must be disbursed by June 30, 2024.
The financial support comes on the back of the EC's approval of a 56 million euro disbursement as part of the same programme in February.
($=0.9253 euro)