EC will provide support to fisheries and agriculture

The European Commission confirmed July 22 it has approved a Latvian scheme worth €650,000 intended to support companies active in the microgreen production, fishery and aquaculture sectors affected by the coronavirus outbreak.

The European Commission has approved a €650,000 Latvian scheme to support companies active in primary microgreen production, fishery and aquaculture sectors affected by the coronavirus outbreak and the restrictive measures that the Latvian government had to implement to limit the spread of the virus.

The scheme was approved under the State Aid Temporary Framework. Under the scheme, the public support will take the form of direct grants.

The measure aims at mitigating the liquidity shortages that the beneficiaries are facing and at addressing the losses that they incurred during the period from 1 October 2020 to 31 May 2021 for companies active in the microgreen production sector and from 1 January 2021 to 31 May 2021 for companies active in fishery and aquaculture sector.

The aid cannot exceed €225,000 per beneficiary active in the primary agricultural sector and €270,000 per beneficiary active in the fishery and aquaculture sector, and will be granted no later than 31 December 2021.

"The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State," the official notification said.

Source: eng.lsm.lv