For Growth on the Earth

In 2024, EUR 34 million of support is allocated for the development of agriculture in Latvia

In order to ensure EU support for agriculture in the amount of EUR 34 million in 2024, on Tuesday, April 9, the government approved the amendments developed by the Ministry of Agriculture to the regulations of the Cabinet of Ministers of February 3, 2015 no. 59 “State and European Union support allocation procedure for investment promotion in agriculture”.

Support in the amount of EUR 23.5 million is intended for the partial repayment of loan interest to primary producers of agricultural products, agricultural and forestry cooperative societies, entrepreneurs engaged in the processing of agricultural products, as well as in fishing, aquaculture or the processing of their products.

EUR eight million will be allocated to agricultural scientific research and improvement of the material and technical base of agricultural scientific institutions.

On the other hand, EUR 2.5 million is reserved for the development of breeding material to promote the introduction of conventional, integrated and organic agricultural crop cultivation technologies.

The amendments provide support for the partial repayment of interest on all state-owned capital company “Altum” loans issued after April 24, 2015, as well as for those share loans for which support for partial repayment of loan interest was not paid in 2023.

Information source: Ministry of Agriculture