Romanian Farmers To Get Loans From Six Banks Under Rural Development Program

The six lenders selected are CEC Bank, Banca Comerciala Romana (BCR), Banca Comerciala Carpatica, Raiffeisen Bank, BRD Groupe Societe Generale and Bancpost.

"Both parties will sign agreements next week at the latest," ministry officials said.

The ministry offered RON760 million to commercial banks in an auction seeking lenders to grant advantageous loans to farmers. The bulk of the funds, or RON630 million, was assigned for eligible investment projects within the National Rural Development Program, RON30 million will go to projects within the Operational Program for Fishing and RON100 million was assigned for projects that are not financed with European Union funds.

Beneficiaries of rural development programs may access structural funds to cover part of their investments. The granting of advantageous loans aims to help investors cover their expenses and help increase Romania’s absorption of EU funds.