Government to announce new €67.5m agricultural investment policy

The Government will announce a major investment measure connected to the Common Agricultural Policy Strategic Plan, Government Spokesperson Konstantinos Letymbiotis has revealed.

In statements to journalists at the Presidential Palace, as part of his briefing to the media on 3 June, the Government Spokesperson said that "the Government is proceeding, on Thursday, 5 June, with the announcement of the Major Investment Measure of the Strategic Plan of the Common Agricultural Policy 2023–2027, totaling €67.5 million.

The Strategic Plan is the result of extensive consultation with agricultural organisations and the production sector, so that it responds to the real needs of the primary sector and the challenges faced by farmers.

The major investment measure includes a series of new elements, a series of innovations, improvements and simplifications.

Letymbiotis outlined some of the main elements:

• Only those registered in the Register of Farmers and Agricultural Holdings are eligible.
• There will be an easing of licensing requirements and expediting licensing procedures through special conditions in consultation with the Ministry of Interior and other competent services.
• For the first time, an amount will be allocated per priority with separate points, ensuring the implementation of the objectives of the new Strategy and the approval of the best applications per production sector.
• There will be the promotion of investments in Renewable Energy Sources as well as actions to save energy and reduce production costs with a special financial facility from the Electricity Authority of Cyprus.
• Following a relevant decision of the Council of Ministers, obligations regarding the rational use of water have been established.
• There will be support for sheep and goat farming with €29.5 million, with the aim of strengthening PDO Halloumi and increasing sheep and goat production.

(Source: InBusinessNews)