LATVIA: Farmers to get support to partially cover insurance costs

30 May 2023 —
Farmers will have access to support to cover the costs of purchasing insurance policies for crops and livestock, including the risk of fire. This is provided for by the procedure approved by the government on May 23, the Latvian news source wrote.

Partial coverage of insurance policy costs is determined by the European Agricultural Fund for Rural Development (EAFRD) and state budget funds. The aid is 50% of the insurance premium expenses, but no more than EUR 50 per hectare or one unit of cattle. If the winter crop died and the summer crop has been sown in the spring, then the support threshold is no more than EUR 65 per hectare.

Eligible insurance premium expenses include coverage of the following risks: unfavorable climatic conditions, livestock and crop diseases, pest infestation, fire.

It is planned that the first round of applications for receiving support will be opened in June 2023.