BEI offered a loan of 15 million euro to the Agricover company for the financing of SMEs in agriculture

The European Bank for Investments (BEI) offered at the end of last week, a loan of 15 million euro to the Agricover Credit IFN to finance projects of reduced dimensions implemented by SMEs in the agriculture domain, a press release of the institutin says.

‘It is the first agreement signed in Romania in the framework of the European fund for strategic investments (FEIS), the central pillar of the plan for investments for Europe (investEU) launched by the Juncker Commission’ the press release says.

The European commissionaire for agriculture and rural development Phil Hogan stated that the announcement made by BEI to supply financing type seed finance to the Romanian SMEs in agriculture offers a welcomed incentive to the imvestments, to the creation of new work places and the economic growth in the rural areas.

‘This project should function as a basic model for the similar ones, which are waiting in the whole rural Europe’ Phil Hogan said.

Agricover Credit IFN is, at present, the only financial institution in Romania exclusively focused on the financing of the farmers and their projects, and the loans from BEI will help to find solutions for the lack of necessary financing of the SMEs in Romania and will contribute to the better use of the potential of Romanian agriculture, the quoted press release says.

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