Agriculture, Estonia, EU – Baltic States, Financial Services, Good for Business, Markets and Companies

The Estonian government approved at today's meeting of the European Union's Common Agricultural Policy Implementation Act which provides the legislative basis for payment of agricultural and rural allowances for the period 2014-2020 and the terms set for this purpose.

"Over the next six years, Estonia can use almost two million euros for its rural and agricultural development and support," said Agriculture Minister Ivari Padar. "We need to use these means as a reasonably as possible to make sure that by the year 2020, our agriculture would be even more competitive and rural life viable."

The bill regulates implementing the direct agricultural subsidies, rural development plan support and market management measures in the 2014-2020 period, monitoring their use and work of payment and certification organizations.

The total sum of subsidies paid via the European Agricultural Fund for Rural Development during the period 2014-2020 is 992.6 million euros, including a mandatory co-financing by the Estonian state of 169.5 million euros.

The direct subsidies allocated via European Agricultural Guarantee Fund to Estonia for the period 2014-2020 amount to 1.007 billion euros.