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A new credit product for the agricultural sector will be available to Moldova’s farmers from March 15.

A new credit product for the agricultural sector will be available to Moldova’s farmers from March 15.

It was developed by the Ministry of Agriculture and Food Industry and the Organization for Entrepreneurship Development (ODA). The document was coordinated in the Ministry of Agriculture with agricultural producers, representatives of commercial banks, the Ministry of Finance and the State Tax Service. According to the agrarian department, the new credit product is intended for working capital and will be a permanent instrument. With a state guarantee of 1.6 million lei, the credit product is available for all farmers. In order to respond to the urgent needs, special conditions were approved in the first year, which will be subsequently modified. Thus, for 2024, the loan term will be up to 60 months, and for future years it will be adjusted to 36 months. Also for 2024, a guarantee period of 18 months has been set, with a subsequent reduction to 12 months. The product will be available from March 15; interested farmers can apply to banks to access the financial instrument. At the same time, starting March 1, grain producers can apply for a 500 thousand lei term agricultural loan, which will allow them to start spring agricultural works. // 04.03.2024 - InfoMarket

News on the subject

Moldovan agrarians received about 521 million lei in subsidies in the first 2 months of 2024, including about 269 million lei in February - AIPA.
Moldovan agrarians received about 521 million lei in subsidies in the first 2 months of 2024, including about 269 million lei in February - AIPA.
In Moldova, gross agricultural production in 2023 increased by 23.6%, in comparable prices, compared to 2022.
In Moldova, gross agricultural production in 2023 increased by 23.6%, in comparable prices, compared to 2022.
A working group on crediting processes and solving complex problems in the agricultural sector will be set up in Moldova on February 27.
A working group on crediting processes and solving complex problems in the agricultural sector will be set up in Moldova on February 27.
The testing phase of Farmers’ Register has started in Moldova.
The testing phase of Farmers’ Register has started in Moldova.
Moldova exported the largest volume of wheat in 2023, relative to the previous 3 years - 1 million 136 thousand 643 tons, with Romania being the main export destination with a 62% share.
Moldova exported the largest volume of wheat in 2023, relative to the previous 3 years - 1 million 136 thousand 643 tons, with Romania being the main export destination with a 62% share.
During the last working week, from February 12 to 16, AIPA approved about 64.64 million lei of subsidies for payment to Moldovan farmers.
During the last working week, from February 12 to 16, AIPA approved about 64.64 million lei of subsidies for payment to Moldovan farmers.