Up until 30 September, Bulgarian agricultural producers may submit their insurance policies to the regional directorates of the SFA. A total of 442 applications totalling 2,097,892 Lev (about 1.07 million Euro) have already been filed for the State aid scheme for the co-funding of insurance premiums to insure agricultural productions. For now, 399 contracts worth 1,394,630 lev (about 712,776 Euro) have been signed.
To allow a greater number of growers to benefit from this assistance, the Board of the SFA has decided to increase the budget for the scheme in 2016 to 2.5 million lev (about 1.28 million Euro).
The purpose of the aid is to encourage small and medium companies and growers cultivating fruit, vegetables, oil-bearing crops and tobacco to voluntarily insure their crops against natural disasters and other adverse weather conditions, and it is doing so by partially covering the cost of signing an insurance policy.
The maximum amount of support is 65% of the insurance premium.
