The Azores will receive a total of 77 million Euros under POSEI-Agriculture on an annual basis, announced today the Regional Secretariat for Natural Resources, who will propose to the European Commission the new strategy for the use of these funds in July.

After securing the maintenance of the financial envelope granted to this programme at a period of strong budget containment in the Community space, the Government of the Azores, under the hearing process of industry partners, will maintain to defence the increased flexibility of POSEI in order to allow each region to implement the measures that are better adjusted to its reality.

Co-financed by the European Agricultural Guarantee Fund (EAGF), POSEI provides direct measures and support for regional production.

This initiative has registered a significant adherence of Azorean farmers. POSEI has reached an execution rate of nearly 100 percent in the Azores in 2012/2013, which demonstrates its importance in the development of agriculture, the profitability of farms and the increase of competitiveness.