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January 18, 2022

CEC Bank grants loans to farmers

Farmers and farms benefiting from the single area payment scheme will be able to contract loans from CEC Bank to cover their working capital needs, within 80 pc of the value of the subvention they are to receive, Mediafax reports.

CEC Bank announced it would sign, with the Payment Agency for Intervention in Agriculture (APIA) and the Rural Loans Guarantee Fund (FGCR), the trilateral agreement for the funding of working capital allowing beneficiaries of the single area payment scheme (SAPS) 2011 Campaign to conduct their current activities. The interest CEC Bank will apply for this type of loan ranges between 9.4 and 9.9 pc, depending on the risk category the client falls in, and a commission of 0.25 pc out of the value of the loan will be perceived on the granting thereof.

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