The European Commission (EC) approved, on December 7, the Common Agricultural Policy (CAP) Strategic Plans of Romania and Bulgaria. The two Plans represent a total EU budget of EUR 20.5 bln, with EUR 5.6 bln for Bulgaria and EUR 14.9 bln for Romania.

Out of the total EU budget for these two countries, more than EUR 5.6 bln will be dedicated to environmental and climate objectives and eco-schemes, and EUR 436 mln to young farmers.

The Common Agricultural Policy - CAP will benefit from EUR 270 bln of EU funding for the 2023-27 period.

Romania’s Plan also includes EUR 1.1 bln allocated to investments in farms and processing units. Among other things, this will support the development of renewable energy sources and increase the value added to agricultural products. Farms of less than 50 hectares will also receive an additional redistributive payment, and 12,000 jobs will be created in rural Romania.

A further EUR 170 mln will be invested in modernizing communal roads.

Aid will be provided to young farmers so they can set up and develop their businesses.

radu@romania-insider.com

(Photo source: Mihai Neacsu/Dreamstime.com)