EU authorizes German scheme to support farmers

15:43, November 24, 2009      

Email | Print | Subscribe | Comments | Forum 

The European Commission on Monday authorized a German scheme worth some 100 million euros (149.7 million U.S. dollars) to support farmers hit by the current economic crisis.

Under this new scheme, the aid can be allocated until Dec. 31, 2010 and will take the form of direct grants, interest rate subsidies, subsidized loans and subsidized guarantees.

Data provided by German authorities showed that the decrease in producer prices has led to an income foregone in the German agriculture sector of some six billion euros (8.98 billion U.S. dollars).

The German scheme is open to farmers in all sub-sectors of primary agricultural production, provided they were not already in difficulty on July 1, 2008, i.e. before the beginning of the crisis.

It is limited in time until Dec. 31, 2010 and complements other crisis measures already put in place by Germany.

The German scheme is the first one approved by the commission after the EU's executive arm amended its state aid rules to allow limited amounts of aid to primary agricultural producers.

Source: Xinhua
  • Do you have anything to say?
Special Coverage
Major headlines
Editor's Pick
  • First Xiaolong fighter made in Pakistan
Most Popular
Hot Forum Dicussion