RSS announces applications for projects for the development of farms and cooperation for 52 million euros

The Rural Support Service has announced the acceptance of project applications under the European Union (EU) European Agricultural Fund for Rural Development and the Rural Development Programme measure “Investments in tangible assets” in two measures, where the total available funding will be 52.454 million euros, according to information in the official publication “Latvijas Vēstnesis”. The RSS will accept project applications under the European Agricultural Fund for Rural Development and the Rural Development Programme measure “Investments in tangible assets” in the sub-measures “Support for investments in agricultural holdings” and “Support for investments in processing” from November 4 to December 4 of this year. The available public funding under the sub-measure “Support for investments in agricultural holdings” for cooperatives is 7.506 million euros, and for agricultural holdings – 29.166 million euros. Funding for agricultural holdings will be distributed according to the principle of regionalization. The aim of the measure is to support agricultural holdings in order to improve their economic performance and competitiveness, as well as to promote the development of cooperation, ensuring sustainable management of natural resources and supporting a climate-resilient economy. The evaluation of projects under the measure “Support for investments in agricultural holdings” will take place by 1 March 2021, taking into account the released public funding. The available public funding under the sub-measure “Support for investments in processing” is 15.783 million. The aim of the support is to increase the efficiency of agricultural product processing and increase the added value of products, promoting the development of competitive cooperation and the development of sustainable agricultural production and the introduction of innovations in enterprises. The submitted projects will have to be implemented within a year from the date of the decision of the State Agricultural Development Agency on the approval of the project application, if investments are made for the purchase of fixed assets of production, or within two years from the date of the decision of the State Agricultural Development Agency on the approval of the project application, if construction, reconstruction, installation of permanent plantations and purchase of fixed assets of production are carried out.