ProCredit Bank continues to co-operate with the Agency of Payments and Intervention in Agriculture
Bucharest, August 19, 2013
In August 2013, ProCredit Bank renewed its co-operation agreement with the Agency for Payments and Intervention in Agriculture (APIA). Under this agreement, the bank provides funding to recipients of grants received from the APIA within the Single Area Payment Scheme (SAPS).
This financing facility is available for customers who have already received cash subsidies from the APIA and have placed them into a current account with ProCredit Bank, as well as for new customers. The bank is offering financing to APIA grant recipients in the form of a credit line with a maximum maturity period ending on 30 June 2014, which is the deadline for farmers to receive the last grant instalment from the agency. The maximum amount of financing that the bank can offer is 90% ofthe total subsidy received from the APIA[HA1] .
ProCredit Bank accepts flexible guarantees for financing (assignment of APIA funds or personal collateral, depending on the amount awarded). In addition, applicants can benefit from the guarantees provided by the Rural Credit Guarantee Fund, which can cover up to 80% of the credit line.
In 2012, ProCredit Bank ranked second in the Romanian banking system in terms of the number of loans granted under APIA subsidies, which shows the confidence that customers have in ProCredit Bank’s ability to manage financing dedicated to agriculture.