The new financial instrument is designed to provide agrarians with the necessary support in the process of seasonal work, reports the MAIA Ministry of Agriculture and Food Industry.
According to MAIA Secretary General Sergiu Gerciu, the new financing line was designed to reduce the financial pressure on farmers, since within its framework the cost of borrowed funds is significantly lower than the average on the country’s credit market.
Farmers can obtain financial resources under the following conditions:
- maximum amount – up to 500 thousand lei “in one hands”;
- fixed interest rate – 5.1% per year;
- repayment term – up to 5 years.
These funds can be used to purchase seeds, fertilizers, diesel fuel or for other urgent needs related to technological processes in farms. To receive support, farmers can apply directly to commercial banks and financial institutions participating in the program, including to units where they already have active accounts.
Loan recipients can also access financial guarantees through a guarantee fund managed by the Organization for Enterprise Development (ODA).
