The European Commission has announced that a 77.1 million euro Hungarian scheme to support companies active in the agriculture, fishing and food industry has been approved in the context of Russia’s war against Ukraine. The scheme was approved under the State Aid Temporary Crisis and Transition Framework, adopted by the Commission in March, to support measures in sectors which are key to accelerating the green transition and reducing fuel dependencies. The aid will take the form of subsidised loans up to 1 billion forints (EUR 2.7m) per borrower. It will be granted no later than December 31, 2023. “The purpose of the measure is to support the liquidity needs of the eligible beneficiaries, currently affected by the rising inflation rates and the cost increase of gas and electricity linked to the current crisis,” the EC said in a statement.
EC approves 77.1 million euro Hungarian scheme to support agriculture, fishing and food industry
Jun 28, 2023
The scheme was approved under the State Aid Temporary Crisis and Transition Framework, adopted by the Commission in March, to support measures in sectors which are key to accelerating the green transition and reducing fuel dependencies.