Bulgaria Banks to Loan Money to Farmers

The new measures will let banks to credit not only registered farmers, but also all the applicants on the EAFRD. Photo by BGNES

Bulgarian banks will be allowed to give loans to farmers who have already signed contracts for financial support under the European Agricultural Fund for Rural Development (EAFRD).

The Bulgarian Parliament has voted Wednesday amendments to the farmers assistance law, the Bulgarian National Radio (BNR) reported.

The possibility banks to be allowed to loan money to farmers will give opportunity to many of them to find the needed funding for completing the approved projects. This has been the moving force for the MPs vote.

The new measures will let banks to credit not only registered farmers, but also all the applicants on the EAFRD.

Similar procedures are successfully being applied for refinancing of investment SAPARD credits by the State Fund "Agriculture".

 

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