OTP Bank Romania announces the signing of the agreement with the Agency for Payments and Intervention for Agriculture (APIA), through which a new financing facility of up to 90% of the amount of the subvention will be available for farmers in the livestock sector.
The financings granted based on the tripartite agreements concluded with APIA, the Romanian Rural Credit Guarantee Fund (FGCR) and the National Credit Guarantee Fund for SME’s (FNGCIMM) have a profitable cost structure, the value of the loan being of up to 90% of the amount entered in the applicant’s certificate, and the interest on loans granted in lei is ROBOR 6M + maximum 2%.
Through these credit facilities, farmers can apply for financing for working capital activity in the livestock sector, for which FGCR and FNGCIMM provide a guarantee of maximum 80% of the total amount of the credit.
“The signing of the agreement with APIA represents another step of OTP Bank to support the local economy via financing, partnerships and the initiation of responsible projects. The agricultural sector is particularly important for Romania’s development and has huge and, so far, insufficiently exploited potential. The farmers need support tailored to the needs and specificities of their work, as well as the possibility of learning and using more sustainable financial practices. Through this agreement, OTP Bank reiterates its support for both the agro sector and the overall economic progress of Romania”, stated Roxana Hidan, Deputy CEO, Business Division.
The farmers eligible for APIA grants can apply to any territorial unit of OTP Bank Romania to access this financing facility, based on the farmer registration certificate issued by APIA, for the year 2022.