February 4th, 2010

Brussels gives Hungary brief chance to subsidise farmers up to €15,000

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The European Commission will allow Hungary to grant aid to farmers who are weighed down by the economic crisis, but only until the end of 2010, the Commission said in a statement on Wednesday.

The scheme, worth about EUR 18.2m, is in the form of “direct grants, soft loans, interest subsidies and guarantees,” the Commission said.

Farmers who were not already in difficulty on July 1, 2008 are eligible for grants of up to EUR 15,000.

“The new Hungarian scheme meets all the conditions of the Temporary Crisis Framework …. the Hungarian authorities demonstrated that it is necessary, proportional and appropriate to remedy a serious disturbance in the Hungarian economy,” the statement said.

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