State Fund Agriculture Paid Stockbreeders Subsidies Over 58 Mln Leva

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State Fund Agriculture Paid Stockbreeders Subsidies Over 58 Mln Leva

Since the beginning of 2008, the State Fund Agriculture paid stockbreeders over 58 million leva in subsidies, including some 9 million leva which 1,652 farmers received for quality milk, the Agriculture and Food Ministry said.

A total of 7.25 million leva have been provided for animal feed under 1,923 contracts. In addition, 10,895 stockbreeders got 41.75 million leva under the so-called "de minimis" rule in
accordance with the Assistance to Farm Producers Act and EU Regulation 1535/2007. The conditions for applying for funds under the "de minimis" scheme were established in conjunction with representatives of the National Association of Milk Producers. The total amount paid to stockbreeders under all available instruments represents 92 per cent of the money designed for state assistance to farmers.

Assistance for animal feed is also provided through soft loans designed for stock and poultry breeders. The interest charged on the loans is 3 per cent and there is one year grace period for their repayment. The financial resource available under the credits is 15 million leva – 7.5 million in each of the credit portfolios.

On Thursday, the Management Board of the State Fund Agriculture in approved some changes in the conditions for the provision of funds under the two credit lines to simplify the procedure. Farmers are no longer required to submit documents justifying their expenses on applying for funds from the credit lines. However, within 10 days from receiving the money, they must submit invoices evidencing the purchase of animal feed.

Farmers applying for funds under both credit lines have to provide some security. The repayment of loans under 50,000 leva can be guaranteed only by a promissory note.

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