Small and medium farmers in Romania will benefit from improved access to finance thanks to new funds provided to Agricover Credit IFN by the European Investment Bank (EIB), based on the agreement formalized in 2020 for the initially approved total loan amount of €15 million.
These funds are being made available to Agricover Credit IFN, in addition to the €7.5 million first tranche already provided in 2020. The EIB financing is guaranteed by the European Fund for Strategic Investments (EFSI).
Agricover Credit IFN finances the agricultural sector and works with more than 15% of all professional farmers in Romania. It is a subsidiary of Agricover Holding S.A., which offers agribusiness and financial services to farmers through a highly integrated business model centered around satisfying the essential business needs of farmers.
This second tranche of new funds will enable Agricover Credit IFN to provide loan support to medium and small farmers, expanding its financing to facilitate the sustainable growth of agriculture and farm businesses.
EIB Vice-President Christian Kettel-Thomsen commented: “Unlocking investment in the agricultural sector is crucial to enable agribusiness to grow, harness new business opportunities and create jobs. The European Investment Bank is pleased to further strengthen our cooperation with our Romanian partner specialized and dedicated to financing farmers, Agricover Credit, through the new EUR 7.5 million financing agreed in Bucharest today.”
“This second tranche of funding from the EIB consolidates Agricover Credit’s position as a strategic partner for Romanian farmers, offering specialized financial support for all their development needs. Besides financing large farmers, we support very much small and medium sized farmers who need financial help to develop their farm activities in a sustainable way.
We thank the EIB for sharing our confidence in the great potential of Romanian agri-business and for supporting our successful operational model” statedAgricover Credit IFN CEO Robert Rekkers.
Greek companies engaged in international activities will benefit from a new EUR 200 million trade finance partnership between the European Investment Bank (EIB) and HSBC Bank plc announced in Athens on Thursday, in the presence of Yiannis Tsakiris, Deputy Minister of Development and Investment. The initiative will support trade and export finance services provided by participating Greek banks to local companies and addresses a market gap that continues to restrict international business by Greek companies.
The European Investment Bank (EIB) has granted a €150 million loan to Österreichische Hotel- und Tourismusbank (ÖHT). It will be paid out in several tranches and go towards supporting small and medium-sized enterprises (SMEs) in the leisure and tourism industry in Austria. The loan is designed to enable family-run hotels and restaurants to invest in sustainable projects.
Rabobank and the European Investment Bank Group have strengthened their longstanding partnership by making available over €1 billion in new, favourable lending for Dutch small businesses and mid-caps. This comes in the form of two recently signed facilities — one for sustainable entrepreneurs, the so-called impact loans, and one intended for COVID relief, among others.