BUSINESS

Beneficiaries of EU rural development funds allowed to borrow from non-bank institutions

The beneficiaries of EU funds via the 2014-2020 National Programme for Rural Development (PNDR) are allowed to borrow or get loan guarantees also from non-bank financial institutions (NBFIs), even from those not registered with a specialist association, the Rural Investments Financing Agency (AFIR) informed on Wednesday.
The only condition is the registration of the NBFIs in the Special Register of the National Bank of Romania (BNR, the central bank), AFIR general manager David Eugen Popescu explained.
The beneficiaries of the PNDR can also cooperate with the NBFIs to cover the necessary advance for the initiation of the projects funded under the PNDR 2014-2020.
The measure was determined by the constant financial needs of the farmers and entrepreneurs in the rural environment, considering also the difficulties they face in obtaining the funds they need in the implementation stage of the project.
The new PNDR 2014-2020 programme is worth 9.46 billion euros, 8.13 billion euros of which represent the European contribution and 1.34 billion euros the contribution from the state budget.

 

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