EC reimburses € 660 million in APIA accounts

Romanian Ministry of Agriculture announces that the European Commission has reimbursed € 660 million, in the first week of January 2018, an amount that has been sent in the expenses account of the Agency for Payments and Intervention in Agriculture (APIA).

This amount was paid by APIA in October and November last year in order to obtain the pre-financing payment from the direct payments financed by the European Agricultural Guarantee Fund.

According to the European regulations, these expenditures are initially financed from the state budget, and are subsequently reimbursed by the European Commission – Ministry of Agriculture states in a press release.

European legislation also provides that payments under the aid schemes are to be made between 1 December and 30 June of the following calendar year.

Source:RRA.Translated by Miruna Matei