Bulgaria Agriculture Fund Asks for BGN 100 M Bigger Budget

The money will be given to the banks in order to relief the beneficiaries when applying for credit loans, Simeonov explained. Photo by BGNES

The Bulgarian Agriculture Fund will ask the Finance Ministry for additional BGN 100 M in the 2010 budget

The extra money will be used for the Program for Rural Development, the Deputy Director of the Fund, Svetoslav Simeonov said Saturday.

The money will be given to the banks in order to relief the beneficiaries when applying for credit loans, Simeonov explained.

This measure is medial, and will last until the a guarantee fund for low interest credit loans is created.

In Simeonov's words, more and more beneficiaries who apply under measure 121 for modernization of farms abandon some of the investments. The farmers have a lot of difficulties finding additional money for funding the activities under that measure. 20-30 beneficiaries quit every week.

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