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Support provided by the Podpůrný a garanční rolnický a lesnický fond, joint-stock company

Audit Id 1594385941029
Title Support provided by the Podpůrný a garanční rolnický a lesnický fond, joint-stock company
Titre dans la langue originale

Podpory poskytované Podpůrným a garančním rolnickým a lesnickým fondem, a.s.

Czech

Année 2020
Sujet

Agriculture and Food

Financial Institutions and Markets

Type

Compliance/Legality

Performance

Type de performance

Performed by single SAI

Description The Supreme Audit Office (SAO) examined the financial support for the agricultural sector paid out by the Czech state through the Support and Guarantee Fund for Farmers and Forestry (SGFFF). It is a joint-stock company and its sole owner is the Czech Republic. In the audited years 2014 to 2018, the SGFFF paid approximately CZK 6.2 billion to beneficiaries. The audit also focused on how the Ministry of Agriculture (MoA) managed the activities of this fund and revealed a number of shortcomings. Also, the MoA did not set specific objectives in order to assess the benefits of paid-out aid. The SAO assessed how the MoA fulfilled its role as a founder and a sole shareholder of the fund on behalf of the state. Each year, the MoA also provides a subsidy from the state budget to the SGFFF. This subsidy is the main source for financial support which the Fund pays to farmers. The majority of the funds paid out by the SGFFF during the audited years was non-repayable financial aid. This included, for example, financial support to reduce interest on loans granted by commercial banks, to reduce the principal of loans when buying land, or to offset a part of the premium against unforeseen risks. The Fund also provided loans which accounted for less than a fifth of the funds provided during the audited period.
Pays

Czech Republic

Matériels

Press release

English

View press release

Press release

Czech

View press release

Audit report

Czech

Download report
Contact
Strategic Group 1
eurosai.sg1@nku.cz
https://www.nku.cz/en
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