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March 5, 2021
ECONOMY FINANCE&BANKING

EC reimburses Romania 664 mil euro for payments funded by EAGF in 2017 campaign

The European Commission (EC) reimbursed to the Agriculture and Rural Development Ministry (MADR) 664 million euro to cover for the spending of the Agency in Payments and Intervention for Agriculture (APIA) over 16 October – 30 November 2017 in granting the down payment corresponding to the 2017 campaign of direct payments funded by the European Agricultural Guarantee Fund (EAGF), a release of the relevant ministry sent to AGERPRES on Monday informs.

“In the first week of January, the Agriculture and Rural Development Ministry received the amount of 664 million euro, representing the reimbursement from the European Commission for spending incurred by the Agency in Payments and Intervention for Agriculture (APIA) between 16 October – 30 November 2017, for granting the down payment corresponding to the 2017 campaign of direct payments funded by the European Agricultural Guarantee Fund (EAGF). These expenses were initially funded from the state budget, according to European provisions and they are subsequently reimbursed from the European Commission,” the release informs.

The MADR mentions that the payments funded by the EAGF are to be made at the exchange rate established by the European Central Bank (ECB) of 4.5993 lei for one euro, published in the Official Journal of the European Union.

According to the legislation in force, the down payments have been granted between 16 October – 30 November 2017.

According to the specific European regulations, the payments under the support schemes are made between 1 December – 30 June of the next calendar year.

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