Some 12 percent of the credits granted by the Romanian Savings Bank (CEC) are destined to the farming area and in the next three years the bank wants to have a 20 percent exposure of its credits to this area, the head of CEC, Radu Gratian Ghetea said.
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Ghetea believes the three banks – CEC, BRD SocGen and Alpha Bank – which signed agreements with the Agency for Payments and Farming Intervention (APIA) will this year grant loans of at least 200 million euros.
APIA is the institution in charge with the management of the EU funds for agriculture. Ghetea noted the banking system is ready to facilitate the access of farmers to EU funds and to cover the need of money until EU subsidies are accessed.
Most of the banking units in the rural area belong to the country’s oldest state-owned lender CEC, in spite of the fact that there is demand for such financial institutions, an official with the Central Bank of Romania (BNR) previously said.
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