The funding has been approved by the European Commission (EC) under the Common Agricultural Policy (CAP)'s system of "strategic plans." The first batch of strategic plans to be approved will see seven European countries receive aid for agriculture.
The Portuguese Ministry of Agriculture said that the money will be used for "income support, sectoral programs, and rural development programs."
It added that approval of the funding had required "intense and exhaustive work," including public consultations and a "permanent and constructive dialogue" with associations representing the agricultural sector.
Portugal sent its proposal to Brussels on Dec. 30, 2021, and this was followed by a negotiation process.
"This is the biggest reform of the Common Agricultural Policy in the last 30 years and aims to be an integrated strategy, having a performance model focused on results, with greater equity in the distribution of support, greater climate ambition, and giving greater emphasis to the social dimension," the Ministry said. (1 euro = 1 U.S. dollar)
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