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EU OKs €176m worth of Polish state aid to agricultural firms affected by Ukraine war

04.08.2023 15:00
The European Union’s executive has said it has approved a Polish plan to offer around EUR 176 million worth of state aid to agricultural companies affected by Russia's war against Ukraine.
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The European Commission said on Friday it had approved "an approximately EUR 176 million (PLN 780 million) Polish scheme to support companies in the context of Russia's war against Ukraine."

The EU executive added that the support would "take the form of subsidies on loan interest rates" and "be available to companies active in the trading or purchasing of cereals, trading of agricultural plant seeds, or the purchasing or freezing of soft fruit."

According to the European Commission's statement, the measure aims to provide assistance to companies "facing liquidity shortages caused by the current geopolitical crisis."

"There will be over 1,000 beneficiaries under the scheme," the statement also said.

Russia invaded Ukraine on February 24, 2022, launching the largest military campaign in Europe since World War II.

Friday is day 527 of Russia’s war on Ukraine.

(gs)

Source: IAR, PAPec.europa.eu