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Wednesday, 25 November 2009

Commission authorises Germany to grant aid to farmers

The European Commission has today authorised under EC Treaty State aid rules a German scheme worth some €100 million aimed at supporting farmers who encounter difficulties as a result of the current economic crisis. Data provided by German authorities show that the decrease in producer prices has led to an income foregone in the German agriculture sector of some €6 billion. Aid under this new scheme can be granted until 31 December 2010 and will take the form of direct grants, interest rate subsidies, subsidised loans and subsidised guarantees. The German scheme is the first application of the amendment to the Commission's Temporary framework for state aid measures to support access to finance in the current financial and economic crisis, which introduced the possibility of granting limited amounts of aid to primary agricultural producers.

Source: European Commission