Young farmers protest against lack of finance for their projects

Photo: BGNES

Over two thousand projects prepared by young Bulgarian farmers will not receive financing under the EU Rural Development Operational Programme and those who took bank loans to finance the projects are to face bankruptcy, announced the informal Bulgarian organization entitled Cause Young Farmer. For over one year now young Bulgarian farmers have been hoping that their projects would be approved under Measure 112 -Setting Up Young Farmers in Europe. The farmers prepared over 2,700 projects and most of them took bank loans in order to finance them, as the former Bulgarian government promised to provide access to Measure 112. Now it turns out that most young Bulgarians do not have money to pay back their bank loans. The measure is to come into effect in January next year and its budget is still unclear. Thus, some 2,100 projects will fail and their authors would not be able to apply for money under this program anymore.

More from category

Fitch confirm Bulgaria's long-term and short-term credit rating

The Bulgarian Ministry of Finance has reported that Fitch rating agency has confirmed Bulgaria's long-term and short-term credit rating BBB in foreign and domestic currencies with stable prospects. The agency recognizes that the..

published on 11/17/18 11:45 AM

No changes in coalition agreement, GERB do not expect early elections

In a televised interview, parliamentary leader of ruling GERB party, Tsvetan Tsvetanov, said that the resignation of Deputy Prime Minister Valeri Simeonov was not surprising. He added that there were no changes in the coalition agreement between GERB..

published on 11/17/18 11:09 AM

Deputy Prime Minister Simeonov resigns, protests continue

On Friday night, Deputy Prime Minister Valeriy Simeonov, in charge of economic and demographic policy, resigned and the resignation was immediately accepted by Prime Minister Boyko Borissov. This happened after 26 day of protests by mothers..

published on 11/17/18 9:51 AM