EximBank And Agricover Credit Extend RON100M Loan Agreement By Two Years

EximBank and Agricover Credit are extending, for two years, a loan agreement worth RON100 million, which was concluded in 2015 to ensure the resources needed to develop new financial products and services for farmers, according to a statement released on Wednesday.

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EximBank and Agricover Credit concluded the first financing agreement in 2013, through which the former granted a loan of RON70 million (over EUR15.5 million) to the latter.

Agricover Credit is the first non-banking financial institution specialized exclusively on agricultural finance. In 2016, Agricover Credit granted loans worth RON988 million and registered a net profit of over RON22 million, up 28% versus 2015.

Romania’s export-import bank, EximBank, was established in 1992 as joint-stock company, being majority owned by the Romanian state, through the Finance Ministry (95.37%).

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