The government adopted on last Wednesday two measures to support farm producers affected by drought, providing for financial compensation and the legal suspension of the repayment of current and outstanding loans until August 2025.The decision comes as more than 230,000 farm producers (individuals, companies or family businesses) were hit by drought between September 2023 and August 2024, and provides for drought relief grants in the amount of RON 1,000 for each affected hectare, government spokesman Mihai Constantin said. The aid is disbursable based on a damage assessment minute acknowledging that the affected area is at least 30%. The budget of this state aid scheme is RON two billion.Another measure adopted by the government to support farmers who had difficulties this year provides for the possibility of legally suspending the repayment of current and overdue loans due in 2024, until August 1, 2025. The facility applies provided that two requirements are met: the applicant for suspension must have a record ascertaining an extent of damage of at least 50%; the interest charged by the lender is higher than 2.5% plus ROBOR for loans in RON, and 2% plus EURIBOR for foreign currency loans, Agriculture Minister Florin Barbu explained.Another emergency ordinance adopted on Wednesday aims to expand the "Farmer's Loan" state aid scheme, so that advantageous state-guaranteed loans can also be accessed for the payment of outstanding debts to suppliers and input distributors."We are talking here about 100% state-backed loans with a fixed interest rate of 1.95, and the ROBOR and all other fees are borne by the Ministry of Agriculture and the Government of Romania. (...) Let me tell you one more thing: Romania's self-sufficiency rate for domestic products is 100%. This year's wheat production exceeds by 1.9 million tons the 2023 crop. Practically, we have the necessary output for both animal husbandry and for export," the minister emphasized.
It's almost impossible to think about anything not related to elections this weekend but if you should need some distraction, there are options. Happening now is the European Film Festival, screening recent productions from the continent, very varied in theme, tone, and genre. The fest is playing Bucharest, Sfântu Gheorghe and Timișoara until Sunday and […]
Modernization work is ready to start at Bucharest’s Henri Coandă International Airport, also known as the Otopeni Airport, following an investment of over RON 112.4 million (some EUR 22 million) led by the National Company Bucharest Airports (CNAB), news agency Agerpres reported. The company...
Paris Hilton, who will be present at IntenCity Craiova, a festival organized this summer between June 26–29, sent a message to her fans in Romania. "I'm excited to perform at the IntenCity Festival on June 28. It's going to be so much fun! See you there," Paris Hilton told those who will come to Craiova. […]
AMAIS (Association for Alternative Methods of Social Integration) has officially launched the SeeYou mobile app, an innovative platform that connects visually impaired individuals with volunteer guides who can accompany them during everyday activities - from medical appointments or shopping to park strolls or cultural events. SeeYou is the first mobile app of its kind in […]
SAI Broker, a Romanian investment management company part of BRK Financial Group, listed a new ETF on the Regulated Market of the Bucharest Stock Exchange (BVB) on May 16, under the stock symbol BKBETETF. The ETF aims to fully replicate the structure of the main index, BET. The BET index reflects the evolution of the […]
An investment of over RON 1.26 billion, approximately EUR 254 million, is set to be made in the Port of Constanța, to increase maritime transport capacity and the volume of commercial exchanges. The funds will be used for the construction of a quay and the development of a port area covering 550,000 square meters. The […]
