Coronavirus-affected farmers will be able to access a dedicated loan scheme for an interbank offered rate (ROBOR) of 2 percent; the value of the loan will be of up to 85 percent of the total amount the farmers will receive in subsidies during this period, Minister of Agriculture and Rural Development Adrian Oros told a press briefing on Tuesday.
"In order to facilitate the farmers' access to advantageous loans, the Agency for Payments and Intervention in Agriculture (APIA) has signed agreements with commercial banks and the Guarantee Fund, for the farmers to be able to access loans with a 2 percent ROBOR on the basis of APIA certificates. The loan can be as high as 85 percent of the amount calculated from both the EAGF and the total amount the farmers will collect in subsidies during this period," said Oros.
He added that APIA will start issuing certificates as of May 15, 2020, two months earlier compared to last year.
"Also in order to meet the needs of the farmers affected by the coronavirus pandemic, the certificates will be released in 2 or 3 days from the date of the application's submission. This is the promise made by my APIA colleagues and they will certainly keep their word," Adrian Oros said.
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