BULGARIA LOOSES USD 50 MILLION FROM QATARI LAMBS

Qatar withdrew its deposit of USD 50 million provided for Bulgarian farming. The deposit's term expired in October 2013, confirmed the Ministry of Agriculture, Standart daily reports.

However, this is not a problem because Bulgaria and Quatar have signed a memorandum of cooperation in the field of agriculture, the department explained. Accordingly, the deposit may be renewed and the money this time will indeed enter the Bulgarian agriculture.

Qatar gave the money as a guarantee for its interest in buying Bulgarian lambs. Despite many ideas on how to absorb the money, however, ultimately no options were found on how the funds could actually reach the farmers. Suggestions for absorption arrived from stock-breeding organizations and the Agricultural Academy, in the end, however, there were no exact submitted plans on how to absorb the Qatari millions until October 2013.

Meanwhile, a Bulgarian- Qatari company has been established. It will export feed, lamb and veal to the exotic coutry. The company was registered about 20 days ago under the name "Bulgaria - Qatar - Agricultural Company " LTD . It is a private initiative and has nothing to do with the millions of Qatar.