articles | 21 July 2017

Additional €30 million earmarked for farmers

A further €30 million will be paid out to farmers within the framework of the Programme of Agricultural Development 2014-2020, the Cyprus Agricultural Payments Organisation (KOAP) has announced.

Farmers have shown an overwhelming interest in the Programme’s order 4.1 regarding ‘Investments for the improvement of the total yield and the viability of agricultural holdings,’ which takes up 21% of the Programme’s budget and subsequently an additional €30 million will be made available to the budget.

A total of 604 applications totalling investments of €160 million has been received according to KOAP while the total amount required to cover the subsidies for all the applications is estimated at €80 million.

The available funds, however, fall short of the mark to cover all the applications.

According to KOAP the additional €30 million and the initial €20 million that was budgeted for order 4.1 will be made available during the first phase of subsidy issuance and will be made available to applicants based on the relevant regulations and criteria governing the terms of the subsidies.

Source: InCyprus

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