The Council of Ministers adopted on Wednesday a decree on renewing payments to end-beneficiaries under the Investment in Agricultural Holdings Improvement of the Processing and Marketing of Agricultural and Fishery Products, Development and Diversification of Economic Activities, Provision for Multiple Activities and Alternative Income and Wholesale Markets measures of the SAPARD Program from the National Plan for Agriculture and Rural Regions Development 2000 - 2006, the Council of Ministers press center said Wednesday.

The adoption of this decree will lead to renewal of payments to end beneficiaries under the SAPARD Program. Due to the suspended by the European Commission reimbursement of costs under these four measures, there are not sufficient available funds from the EU co-funding to make payments to end-beneficiaries.

In this regard the Government will allocate 150 million leva from the state budget for 2008 in a special account of the National Fund managed by the Finance Minister. The funds will be provided from savings and/or extra revenues to the state budget.

The 50 million leva, representing 25 per cent national co-funding for these measures were planned in advanced and are available in a special off-budget account of the National Fund managed by the Finance Minister.

Thus the total financial resource for payments of subsidies to end beneficiaries under the above measures will stand at 200 million leva.

Source: BTA