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EU Commission Implementing Regulation (EU) 2024/2675: Emergency Financial Support for Affected Agricultural Sectors

The European Commission has enacted Regulation (EU) 2024/2675 on October 10, 2024, to provide urgent financial assistance to the agricultural sectors in Bulgaria, Germany, Estonia, Italy, and Romania. This regulation aims to mitigate the economic impact of severe climatic events that have adversely affected these Member States.

Allocation of Funds

A total of €119,700,000 is allocated by the Union for emergency support, distributed among the affected countries as follows:

• Bulgaria: €10,900,000
• Germany: €46,500,000
• Estonia: €3,300,000
• Italy: €37,400,000
• Romania: €21,600,000

These funds are designated to compensate farmers who have experienced significant economic losses due to unprecedented climatic conditions, ensuring the viability of their agricultural operations.

Criteria for Fund Distribution

The distribution of aid must adhere to the following principles:

• Objective and Non-Discriminatory: Aid must be allocated based on clear, objective criteria without favoritism.
• Proportional Support: Payments should reflect the actual economic damages suffered by farmers to prevent market distortion.
• Market Integrity: Measures must ensure that financial support does not lead to unfair competition or overcompensation.

Implementation and Deadlines

The regulation sets specific timelines for the distribution and reporting of funds:

• Payment Deadline: All Union aid must be disbursed by April 30, 2025.
• Additional National Support: Member States may grant additional support up to 200% of the Union aid by July 31, 2025.
• Notification Requirements:
  • By December 31, 2024: Detailed descriptions of measures, criteria for aid distribution, intended impacts, and mechanisms to prevent market distortion.
  • By October 31, 2025: Final reports detailing total payments, beneficiary data, and effectiveness assessments.

Flexibility and Additional Support

Member States are permitted to combine this aid with other support mechanisms funded by the European Agricultural Guarantee Fund (EAGF) and the European Agricultural Fund for Rural Development (EAFRD), ensuring that farmers do not receive excessive compensation.

Furthermore, Member States can provide supplementary national support to address economic difficulties beyond the scope of Union aid, provided it adheres to the established criteria and deadlines.

Reporting and Accountability

To ensure transparency and effectiveness, the regulation mandates Member States to:

• Provide detailed information on the implementation of aid measures to the European Commission.
• Assess and report the impact of the financial support on compensating economic losses.
• Implement controls to verify farmer eligibility and safeguard Union financial interests.

Effective Date and Applicability

This regulation becomes effective the day after its publication in the Official Journal of the European Union and is directly applicable across all affected Member States.

For more information, refer to the full text of the Regulation here.

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