FINANCE

EU offers boost to stricken Greek farmers

EU offers boost to stricken Greek farmers

The European Commission on Thursday presented its proposal for a direct support measure worth 43.1 million euros for Greek farmers affected by natural disasters, plus €8.6 million for Slovenian farmers. The money for Greek farmers addresses the impact on the agricultural landscape of unprecedented wildfires followed by severe flooding in Greece in August and September. “The significant damage caused by those events to agricultural producers and the resulting loss of income for the affected farmers in Greece and Slovenia endanger the economic viability of agricultural holdings.

“The amounts presented take into account the assessments of agricultural damage by Slovenia and Greece, along with the respective weight of these two countries in the EU’s agricultural sector, on the basis of their shares of CAP direct payments. Additionally, the need to keep sufficient resources available within the agricultural reserve to address potential crises in the remaining months of 2023 and in 2024 was also considered,” a Commission press release said.

The national authorities of Greece and Slovenia will directly distribute the aid to farmers to compensate for economic losses, with payments expected to be made by May 31. Both countries will have to notify the Commission about the implementation details, including the criteria for aid calculation, the intended impact of the measure, its evaluation, and actions taken to avoid distortion of competition and overcompensation. The two countries can complement this EU support up to 200% with national funds.

The Commission’s draft measure, including the principles and methodology for granting support, will be discussed in a transparent way with member-states, who will vote on the implementing regulation at a meeting of the Committee for the Common Organization of Agricultural Markets on November 30. If approved, it will be adopted and enter into force rapidly so that the Greek and Slovenian governments can implement it without delay.

In June 2023, the European Commission had already allocated €15.8 million and €1.2 million to Greece and Slovenia, respectively. These funds came from the agricultural reserve 2023, which aims to support member-states affected by adverse climatic events and macroeconomic challenges in the period up to January 31.

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