The European Union’s executive body, the European Commission, has given its approval to a Polish plan that will provide €346 million (PLN 1.5 billion) in state aid to farmers who have been impacted by Russia’s war against Ukraine.
The support package, as outlined by the European Commission, will involve offering limited amounts of aid in the form of subsidised interest rates on loans. The objective of this measure is to address the liquidity needs of agricultural producers who have been affected by the ongoing geopolitical crisis resulting from the war.
Russia’s invasion of Ukraine on February 24, 2022, marked one of the largest military campaigns in Europe since World War II. The conflict has had severe consequences for Ukrainian farmers, and the approved state aid aims to provide them with much-needed assistance during these challenging times.
By approving Poland’s scheme, the European Union demonstrates its commitment to supporting member states in addressing the economic repercussions of the Ukraine war and helping farmers navigate through this difficult period.