The Ministry of agriculture and fisheries, food and environment (MAPAMA) will increase to 200 million euros credit funded owners of farms affected by the drought, as set out in the Ministerial order issued on August 1st in the official State Bulletin (BOE). Such aid, which will help alleviate the difficulties in the access to credit of these farms, will be managed through guarantees of the State Corporation Caución Agraria (SAECA).
The above-mentioned Ministerial order lays down the regulatory bases and summon public subsidies, aimed at obtaining guarantees by owners of agricultural holdings. Some public subsidies totaling subsidies for loans by EUR 90 million convened June 5th, 2017. Thus, the maximum volume of credit funded by the MAPAMA to mitigate the effects of drought in 2017 reaches 200 million euros.
This aid is aimed to the owners of farms who develop their activity in the field of production of cereals, legumes, oilseeds, hops, potatoes, grape, as well as cattle ranching or the apicultura
The cost of the guarantees granted by the Spanish State Savings Accounts Corporation (SAECA) to new liquidity loans of up to 5 years, with the possibility of a 2-year grace period, and 60,000 € per beneficiary, is thus financed. These limits may be exceeded in the credits granted under the ICO-Guarantee Line SGR / SAECA, taking into account in this case the limits of the aforementioned line in the operations guaranteed by SAECA.
Financial Services
The design of this helpline has taken into account the priority given by the Ministry of Agriculture and Fisheries, Food and Environment to the ENESA Combined Agricultural Insurance Plan as the main tool for drought risk management.
Therefore, it is planned to finance the amount of the study commission of the guarantee, to those beneficiaries who have taken out insurance for one of the agricultural or livestock insurance lines included in the Combined Agricultural Insurance Plan for 2017 or in the Plan of the year before, in the case of lines in which the opening of the insurance subscription period is later than the date on which the period for requesting the aid ends. The amount of the study commission will also be financed for young farmers.
The application period for these grants starts on August 2nd, 2017 and ends on September 20th of the same year
CLICK TO CONSULT OFICIAL ANNOUNCEMENT
Source: MAPAMA
