Agriculture Ministry has to get loan from Treasury for direct area payments

In order for the Romanian farmers to receive the direct area payments for 2011, the Agriculture Ministry has been authorized by the government to borrow RON 3.75 billion (approximately EUR860 million) from the Treasury, according to Mediafax.

The loan will be repaid from reimbursements from the European Union, by the end of 2012.By the end of March, the European Commission will compensate the equivalent of EUR1.009 billion spent on the direct area payment scheme.

Loans taken out by the Agriculture Ministry from the Treasury for such payments have grown over the last years, from RON 1.4 billion in 2010, to RON 3 billion in 2011 and RON3.75 billion in 2012.

Simona Bazavan

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