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To support the necessary resources for the development of new financial products and services for Romanian farmers, Eximbank and Agricover Credit IFN have agreed to extend and complement existing loan agreements between both parties.
”The new agreement provisions an add-on of 50 Million Lei and the extension of the disbursement period up to 2022. Agriculture is a strategic domain for us and the partnership with Agricover Credit IFN allows us to actively contribute to the support of Romanian agri-business especially now when the farmers already have a difficult time and need flexible and fast financial support. We are thus contributing to offer the solutions for covering the cash needs of local farmers helping them to overcome the present set-backs and develop their businesses”, said Traian Halalai, Executive President of EximBank.
EximBank and Agricover Credit IFN have concluded the first financing agreement in 2013, with the bank granting a loan of 70 Million lei to the company. The agreement has been extended year over year supporting thousands of local farmers. In 2019 Agricover Credit IFN has granted loans amounting at 1.88 Billion lei, up by 16% as compared to 2018, whilst the active customers number reached 3.434, increasing by 23% as compared to last year.
Agricover Credit IFN, a subsidiary of Agricover Holding S.A., is involved in financing agriculture and has been efficiently supporting Romanian agriculture for 12 years offering specialized solutions for farmers’ businesses development. Find more...
Source: Online/SZK
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