ProCredit Bank has renewed the financing agreement with the Agency for Payment and Intervention in Agriculture
Bucharest, July 26, 2012
ProCredit Bankhasrenewedthe financing agreement with the Agency for Payments and Intervention in Agriculture. Starting August2012, the bank provides, under this agreement, funding for grant recipients received through A.P.I.A., within the single payment scheme (S.A.P.S.).
The financing facility is available for the customers who have already opted to cash subsidies from A.P.I.A. in a current account opened with ProCredit Bank, as well as to new customers. The product available to beneficiaries of A.P.I.A. subsidies is a credit line with a maximum maturity until June 30, 2013, the deadline for farmers to receive the last installment through the payments agency. The maximum amount that can be granted by the bank is 90% of the subsidy that is to be received from A.P.I.A., an increase from last year when the grant amount based on S.A.P.S. subsidies was not higher than 80%.
ProCredit Bank accepts flexible guarantees for financing (transfer of debt to amounts received from APIA or personal guarantee contract, depending on the amount paid). In addition, applicants can benefit from the guarantee offered by the Rural Credit Guarantee Fund, which may cover up to 80% of the credit line.