BRD makes aggressive move onto the agricultural loan market

Autor: Lucian Davidescu | Sursa: Standard.ro | Publicat: 06 mai 2008, 00:00

Banca Romana de Dezvoltare-Groupe Societe Generale (BRD-SocGen) has launched a range of products to finance eligible within post-accession non-reimbursable agriculture, rural environment and fishing fund programs. One of the loans is a ten-year lei-denominated co-financing loan, with a grace period of up to 36 months.

ARTICOLE Lucian Davidescu

Eligible expenditures will be financed by up to 100 percent through co-financing loans that cover the private component and support loans to cover the time between payments and receiving non-reimbursable funds from the Fishing and Rural Development Payment Agency (APDRP), according to a BRD release.

“Furthermore, if the beneficiary of non-reimbursable funds applies to APDRP for a 20 percent advance, the bank offers a letter of guarantee to restitute the advance for ARDRP,” shows the release.

For eligible projects within the Operational Fishing Program, BRD-SocGen offers comfort letters to confirm the funds.

BRD financing is available for National Rural Development Program (PNDR) and Operational Fishing Program (POP). PNDR, launched in March 2008, establishes rural development policies and actions for the 2007-2013 period in the areas of agriculture, forestry exploitation and rural development, as well as investment programs. Investments in excess of €8 billion from European funds will be made through PNDR by 2013.

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