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Commission approves €1.5m Latvian scheme to support companies in agricultural sector

Christian Fernsby ▼ | May 15, 2020
The European Commission has approved a €1.5 million Latvian scheme to support companies active in the primary agricultural production sector affected by the coronavirus outbreak.
Latvia agriculture
Commission   Latvia agriculture
Under the scheme, support will be granted in the form of zero-interest rate loans by the Rural Support Service, a state administration institution operating under the supervision of the Latvian Ministry of Agriculture.

Topics: Latvia

The scheme will enable companies active in the primary agricultural production sector to stabilise their cash flow and pay for supplied goods, raw materials (such as seeds, planting materials, plant protection products, mineral fertilisers) and services.

The Commission found that the Latvian scheme is in line with the conditions set out in the Temporary Framework. In particular, the amount of the zero-interest rate loan per company does not exceed €100,000 and the loan agreements will be signed no later than on 31 December 2020.


 

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