Primary sector support reaches €70 million, says Ministry of Agriculture

The Ministry of Agriculture, Rural Development, and Environment informed the Cabinet during a recent session about the disbursement of funding exceeding €70 million for the development of the primary sector, nearly doubling the allocation of the two previous announcements due to high interest.

According to a press release circulated by PIO after the 31 May meeting, the Ministry of Agriculture, Rural Development, and Environment, in collaboration with the Cyprus Agricultural Payments Organisation (CAPO), has re-announced two of the most significant investment measures of the Rural Development Program 2014-2020. These measures, says the press release, have a strong developmental character, with a particular emphasis on attracting young people to rural areas and the primary sector.

The third call concerns Measure 4.1, "Investments in Agricultural and Livestock Farms," with a declared amount of €31 million (announced from 7 February, 2022, to 5 September, 2022). Additionally, the second call is for Measure 6.1, "Support for the First Installation of New Farmers," with a declared amount of €5 million (announced from 7 February, 2022, to 5 September, 2022).

It is also noted that the examination of applications revealed a particularly high level of interest in participating in the two developmental measures. Specifically, for Measure 4.1, a total of 525 applications were submitted, corresponding to a combined amount of €60.7 million, while for Measure 6.1, 291 applications were submitted, totalling €10.2 million.

"After examining all the relevant data, the Ministry of Agriculture, Rural Development, and Environment has decided to increase the funding allocations from the initial €36 million to €70 million. This decision aims to approve all eligible applications, meaning those applications that meet the requirements and participation criteria," the statement reads.

(Source: CNA)