Portugal will address, on Monday, the issue of reinsurance at the meeting of European Union (EU) Agriculture ministers, related to the consequences of the recent train of storms that hit the country, mainly the central region. The Minister of Agriculture and Fisheries, José Manuel Fernandes, will speak about “a point about reinsurance”, according to diplomatic sourcewith the European Commission having already announced talks with the European Investment Bank to create a European agricultural reinsurance mechanism.
“The minister will naturally take the opportunity to speak to the Commission about the possibilities of funds that can be used” to support farmers, together with the activation of the agricultural crisis reserve, already formally requested. The Government estimates losses in agriculture at around 500 million euros, in addition to more than 275 million euros in the forestry sector.
The work agenda of the Council of Ministers of Agriculture and Fisheries of 27 will be dominated by the debate on national recommendations relating to the Common Agricultural Policy (CAP) which aim to guide Member States in implementing the CAP after 2027.
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