Three Romanian Banks Signed Financing Agreements For Animal Breeders – President

Romanian lenders Raiffeisen Bank and Bancpost are also in talks over financing terms for animal breeders.

Basescu said the country’s agriculture paying agency and the government already paid 200 lei (EUR1=RON4.3005) as subsidy per cattle and RON15 per sheep, adding farmers must further receive RON371 per cattle and RON29 per sheep.

He stressed the agreements with CEC, BRD and BCR target the payment of RON334/cattle and RON26/sheep.

„CEC is ready to start payments as of Monday and the other lenders will soon make public their decision,” said Basescu, stressing the aspects regarding payment methods and the papers farmers must submit to the banks will be cleared out Thursday.

Basescu made these statements after a meeting with representatives of cattle breeders and the head of the farm loan guarantee fund Veronica Toncea.

Cattle breeders said they would put off planned protests, adding they will soon meet with other animal breeders to decide on measures to be taken if they do not get the money in due time.

Union leader Costel Caras announced a new round of talks on Thursday with bank officials and representatives of the paying agency and the guarantee fund regarding the situation of farms undergoing bankruptcy.