
An urgent agricultural loan in the amount of up to 500 thousand lei is available to micro and small grain producers in Moldova from March 1 - Ministry of Agriculture.
As noted in the department, a loan with a total volume of 500 thousand lei and with a state guarantee of 90% can be obtained to cover current expenses by micro and small grain farmers, including those whose loans are classified as substandard, according to the provisions of NBM. In the National Bank of Moldova, a loan is considered substandard if the bank has confidence in servicing and returning the asset, but there is a greater risk of loss than usual, and at least one of the following factors persists: the financial position of the counterparty is deteriorating; the warranty (if any) is insufficient or deteriorating; the bank did not receive sufficient up-to-date information about the financial position of the counterparty (at least quarterly), the person who is the personal guarantor, sources of debt repayment, the validity of using the loan according to the purpose specified in the loan agreement, as well as other documents related to the activities of the counterparty; the asset is used for purposes other than those provided for in the contract; the cash flows of the counterparty/person constituting a personal guarantee are estimated to be insufficient for the regular fulfillment of obligations/enforcement of the guarantee; collection of payment is delayed from 91 to 180 days; other similar factors that are grounds for classifying an asset as substandard. As noted in the Ministry of Agriculture, in order to take advantage of an urgent agricultural loan, farmers must contact commercial banks, where their requests will be considered in accordance with the bank’s individual procedures. State guarantees are also requested through banks. The urgent agricultural loan is a preferential loan product developed by the Ministry of Agriculture and Food Industry in cooperation with the Ministry of Economic Development and Digitalization, the Enterprise Development Organization and the Ministry of Finance. // 04.03.2024 — InfoMarket