Upon approval from Brussels, 30-40% more compensatory grants to be transferred to Bulgarian farmers

By the end of this month, the sixth Rural Development Admission Notification will be completed pending the approval of Brussels to increase the compensatory grants to farmers. As a result, as early as this year, our producers will receive 30-40% more compensation payments than last year, announced Nikolay Nikolov, Head of the Rural Development Directorate at a special conference organised at the International Specialised Exhibition for Food, Drinks, Packaging and Equipment held in Sofia. Nikolov also announced that he already expects the approval of the European Commission on the transfer of €34 mln under some EU operational programmes under measures where the financial resources have already been exhausted. Thus, more funds will be infused into projects for upgrading rural farms and under Measure 112 "Setting up of Young Farmers".

The Ministry of Agriculture is drafting instructions for the establishment of the so-called Guarantee Fund, which will facilitate lending to farmers. The State Fund Agriculture, in turn, is rapidly reviewing projects and transferring payments for their implementation, while this year €500 mln more in grants were negotiated than projected.

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