Commissioner Ciolos, EIB sign MoU on agriculture, rural development

Commissioner for Agriculture and Rural Development Dacian Ciolos and Vice President of the European Investment Bank (EIB) Wilhelm Molterer signed on Monday a Memorandum of Understanding (MoU) between the European Commission and the EIB on cooperation in agriculture and rural development over 2014-2020, Agerpres informs. ‘This Memorandum will bring the agri-food sector closer to the financial instruments needed to increase competitiveness and innovation. The financial instruments envisaged have a strong potential for supporting short supply chains, as well as small farm structures and young farmers,’ said Ciolos. In turn, Vice President Molterer said that ‘long-term lending conditions can encourage entrepreneurs in these sectors to implement business ideas that are difficult to finance out of the current short term cash-flow’.

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