According to a press announcement from the EU Commission, the scheme was approved under the state aid temporary framework, adopted by the EU body on March 19.
The support will take the form of direct grants and will be accessible to five groups operating in the agricultural sector.
It will be available to holdings active in the production of fresh vegetables, strawberries and oranges of the ‘Valencia’ variety. It will also be available to holdings active in the floriculture sector and owners or managers of agricultural holdings without access to irrigation, the announcement said.
“The purpose of the scheme is to address the liquidity needs of agricultural holdings, and to help them to continue their activities during and after the outbreak.”
The commission said the Cypriot scheme is in line with the conditions set out in the Temporary Framework.
“The aid does not exceed €100,000 per beneficiary. The scheme will run until 31 December 2020,” the commission said.
Also, the commission said the measure is necessary, appropriate, and proportionate to remedy a serious disturbance in the economy of a member state.
Source: Cyprus Mail