Romanian Ministry of Agriculture borrows EUR 820 mln for payments to farmers

The Romanian Ministry of Public Finance will transfer RON 3.7 billion (over EUR 820 million) to the Ministry of Agriculture (MADR), as requested by the Agency for Payments and Intervention in Agriculture (APIA).

The money will be used for paying farmers the difference in the area payment scheme (SAPS) related to the 2014 campaign, according to MADR.

The amount made available to the Ministry of Agriculture will be reimbursed until December 30 from European funds, based on the submitted statements of expenditure.

Source:romania-insider.com