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Bulgaria: Over 500,000 euros for agricultural production insurance

Staff writer |
An additional 1 million Lev ( 500,000 euros) will be invested this year by the Bulgarian Government in the Scheme of State aid for the co-financing of insurance premiums to insure the agricultural production.

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The total amount that will go to help producers in 2016 will reach 2.5 million Lev (1.28 million euros). This increase in the annual budget for the scheme will make it possible for more growers to benefit from the aid.

The aim is to encourage small and medium enterprises and growers who cultivate fruit, vegetables, oil-bearing crops and tobacco to voluntarily insure their crops against adverse climatic events.

The maximum amount of funding that each grower may receive will be 65% of the insurance premium.

Applications for participation in the scheme will be accepted until the resources available run out and must be submitted no later than 31 August 2016.

The total budget for the entire duration of the scheme (2015-2020) amounts to 21 million Lev (10.73 million euros).

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