Six banks to extend loans for financing of investment projects in agriculture

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The Ministry of Agriculture and Rural Development (MADR) concluded last week working conventions with six banks for the unfolding of investments in agriculture through the ‘‘Farmer" program, general manager with the Ministry of Agriculture and Rural Development, Miron Moldovan, told.
 
The six banks selected within the auction organized by MADR are BancPost, BCR (Romanian Commercial Bank), Reiffeisen, BRD-Groupe Societe Generale and CEC (Loan and Savings Bank), the overall sum allotted from the ministry’s budget standing at 760 million lei.
 
According to Moldovan, the already submitted investment projects might be funded from these sums, with farmers having the necessary funds for the co-financing segment for projects included in the National Plan for Rural Development (PNDR) within the threshold established by the Government.
 
Of the overall sum stipulated with a view to granting loans for the financing of investments in agriculture, about 630 million lei will be for the financing of eligible projects from PNDR, 30 million lei will be allotted for eligible projects within the Operational Fishing Program, 30 million lei for projects of investments which do not benefit from financing from EU funds.
 
According to MADR, based on the conventions, the banks will finance the projects of farmers contracted through the Payment Agency for Rural Development and Fishing (APDRP) on National Plan for Rural Development.
 
According to the bill which stipulates the minimal threshold, all beneficiaries may receive maximum one million euros – equivalent in lei – for projects submitted for Measure 121 "Modernization of agricultural exploitations" in the vegetal and animal sector and two million euros for associative forms. For measure 123 "Growth of added value of agro-food products and forestry" the maximal threshold is of 1.5 million euros and of 2 million euros for associative forms, whereas for investments in aquaculture and in fish processing, the threshold is of maximum 500,000 euros.
 
For those who do not benefit from EU funds, the thresholds are ranging between 40,000 euros and 110,000 euros for projects of acquisition of biological materials for a single population of cattle farms, pig and egg farms.
 
The Ministry of Agriculture has started the Farmer program in 2006 in order to grant lowinterest loans for projects of investments stipulated by SAPARD program, putting at the bank’s disposal financial resources in this respect.
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