Lithuania allocates 15 million euros in additional loans for farmers

The Lithuanian Ministry of Agriculture has allocated an additional 15 million euros in subsidized loans to support farmers and aquaculture companies facing financial difficulties. This new funding follows the full utilization of a previous 40 million euro allocation, bringing the total available funds for this measure to 65 million euros.

Minister of Agriculture Kęstutis Mažeika stated that the measure aims to ensure farms can survive and maintain daily operations amidst tight market conditions and a lack of working capital. The program is designed for entities involved in primary production, processing, and sales of agricultural or aquaculture products, particularly those unable to secure financing from commercial banks.

Key changes to the loan terms include increased maximum loan amounts per recipient and extended repayment periods for bankrupt entities. Furthermore, eligibility has been expanded: loans can now be requested even in cases where an extreme weather situation has not been officially declared, provided a municipality confirms the damage within 12 months of the event.