EU approves €7.75m for agriculture sector

The European Commission has approved a €7.75 million Cypriot scheme to support workers in the agriculture sector who have been affected by the ongoing war in Ukraine.

According to a statement released on Wednesday, the scheme’s goal is to mitigate the economic impact of the current geopolitical crisis and ensure that sufficient liquidity remains available to the eligible beneficiaries in order for them to continue their activities.

The scheme is aimed in particular at potato farmers and to producers of deciduous trees, vegetables and eggs as well as to some recognised organisations and cooperatives.

“The commission found that the scheme is in line with the conditions set out in the Temporary Crisis Framework,” the statement ratifying the decision said.

“In particular, the aid will not exceed €250,000 per beneficiary and will be granted no later than December 31.”

The EU Temporary Crisis Framework, adopted last March, enables EU member states to use the flexibility foreseen under state aid rules to support the economy in the context of Russia’s war against Ukraine.