Area
European Union
Commodity Group
Meat
Commodity
All
Date
20/04/2020
Policy Category
Production
Policy Instrument
Government support
Description
Announced a EUR 100 billion (around USD 109 billion) loan package to curb COVID-19 pandemic effects on the economy. It also included flexibility and simplification of some Common Agricultural Policy (CAP) instruments to support farmers, specifically through: 1) an extension of deadline for CAP payment applications from 15 May to 15 June 2020, offering more time for farmers to fill in their applications for both direct payments and rural development payments; 2) offering higher advances of payments, with direct payments from 50 to 70 percent and rural development payments from 75 to 85 percent, to increase cash flow for farmers. Farmers will start receiving these advances from mid-October 2020.
