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BCR decided to rely on agriculture - December 15th, 2009
Romanian Commercial Bank (BCR) is granting short-term loans to farmers in compliance with a recently signed convention with the Agency for Payments and Intervention in Agriculture (APIA) and Rural Credit Guarantee Fund (FGCR), is stated in a press release of the institution.
"BCR grants short-term loans to farmers who are to receive subsidies from the state budget within the financial support schemes per hectare, for the cropping and animal breeding sector and in the complementary national direct payments in the livestock sector. Interest rates are extremely advantageous, in some cases, even zero", confirmed Ramona Ivan, Executive Director of Financial Institutions Division from BCR.
Also, BCR has signed bilateral agreements with FGCR to guarantee 50% of these types of loans.
According to the press release, recipients of the APIA subsidies can get from BCR loans to finance working capital necessary for carrying out current activities, summing up up to 70% of the grant to receive from APIA in case of support scheme for area, respectively up to 90% of the grant to receive from APIA in case of support scheme for crops and animal breeding and the national complementary direct payments for the livestock sector. These three types of loans from BCR can be obtained by farmers, individual or legal persons who have a Farmer Registration Certificate issued by APIA that confirms their eligibility for obtaining finance.
Beneficiaries of APIA subsidies can contact any office of BCR's network to access such loans.
Source : Hotnews.ro
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