The bankers were aware of the guaranteed upcoming payments to the farmers
The Deputy Minister of Agriculture and Food Alexander Yotsev held a meeting with representatives of The Association of Banks in Bulgaria at the Ministry of Foreign Affairs. He presented the situation in the Agriculture sector and the readiness for making regular payments to farmers by the DFZ, as well as the planned deadlines for payments during the year. The deputy minister also informed about the tools prepared by the ministry’s team to help farmers, among which is the long-awaited mutual fund.
The creation of the fund is included in the Strategic Plan for the Development of Agriculture and Rural Areas 2023-2027, and the purpose of the instrument is to absorb part of the risks in the event of adverse climatic events, so that farmers are protected from crises in terms of their financial security.
Deputy Minister Yotsev also presented the current changes in the Strategic Plan. He assured the representatives of the association that the direct payments have a guaranteed budget and are calculated for 2024, being in line with the expected deadlines for approval of the payments under the Strategic Plan by the EC. Information was also presented on state aid in the sector. In the meantime, it was emphasized that farmers are regularly informed in which terms payments will be made to them, so that they can plan their relations with commercial banks.
The Deputy Minister expressed satisfaction with the constructive dialogue with the representatives of the Association of Banks in Bulgaria and the demonstrated understanding of the needs of agricultural producers, as well as the discussed opportunities for cooperation to develop new tools to support Bulgarian producers. The participants in the meeting were also informed about the upcoming receptions measure 4.1. under the RDP for investments in farms, under which a new intake for irrigation investments is also foreseen, and it was emphasized that this is expected to mobilize a large financial resource with high interest from the producers.
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