ProCredit Bank signed new agreements with A.P.I.A. to support agriculture
Bucharest, December 19th, 2011
ProCredit Bank Romaniahas signed three new agreements with the Payment and Intervention Agency for Agriculture, bringing new features to support the agricultural sector, which customers can benefit of starting December 2011.
Under these conventions, the bank provides financing for working capital for the beneficiaries of the complementary national direct payments for livestock sector for 2011. Based on the agreement signed between ProCredit Bank and A.P.I.A., owners of sheep, goats and cattle can receive funding for the current activity in the amount of maximum of 90% of the subsidy to be received from A.P.I.A.
The bank concluded a similar agreement with A.P.I.A. for financing in the amount of 80% of the subsidies for the beneficiaries of rural development measures contained in Axis II of the National Rural Development Programme (measures 211, 212 and 214), which are farmers (private individuals or legal entities) carrying that work agricultural land in targeted areas, regardless of the legal status of land and complying with the good agricultural and environmental practices.
The credit lines offered by ProCredit Bank have full maturityuntil February 29, 2012 (for conventions for livestock) and June 30, 2012 (for Axis II), the time limits for receiving subsidies last A.P.I.A. instalments by farmers. The bank accepts flexible guarantees (the rights for the amounts collected from A.P.I.A. or personal guarantee contract, depending on the amount paid). In addition, customers can call on the guarantees provided by the Rural Credit Guarantee Fund that ProCredit Bank has concluded a cooperation agreement with.
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