Commission approves €70m Cypriot state aid scheme for agriculture

08:46 - 20 December 2023

Economy

The European Commission has given the nod to a €70m Cypriot scheme to compensate damages from adverse climatic events in the agricultural sector up to 2030.

The scheme is geared towards supporting farmers who have sustained damage to crop and livestock production, fixed assets, stored products or production equipment due to adverse climatic events causing natural disasters, such as storms, frost, hail, snowfall, heavy or untimely rainfall, high temperatures, temperature fluctuations, drought, extreme air conditions, and dust in the atmosphere.

The aid will take the form of direct grants, at a maximum of €150,000 per year per beneficiary (and €500,000 over a period of five years). The scheme will run until 31 December 2030.

The Commission assessed the scheme under EU State aid rules, which allow member states to support the development of certain economic activities under certain conditions, applying in particular the 2022 Guidelines for State aid in the agricultural and forestry sectors and in rural areas.

The Commission found that the scheme is necessary, appropriate and proportionate as it is limited to the minimum necessary, and will have a limited impact on competition and trade between member states.

Commission approves €70m Cypriot state aid scheme for agriculture

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