EximBank and Agricover Credit continue their partnership for another 2 years
Bucharest, April 5, 2017 – EximBank and Agricover Credit, the first non-banking financial institution exclusively targeted at supporting agriculture projects have agreed to prolong for 24 months the loan agreement amounting at 100 Million Lei, concluded in 2015, aimed at offering the necessary resources for developing new innovative financial products and services for farmers.
”Agriculture is an economic priority domain right now and EximBank may hold an important part in supporting projects that contribute to the increase competitiveness in this field. The modernization of this sector may generate profits, employment and economic growth and, by continuing our partnership with Agricover we are able to further support the Romanian agri-business consolidation process. We do believe that along with the team in Agricover Credit IFN, that holds the necessary expertise, we can offer to the farmers – including small businesses – the financial resources for developing more successful Romanian agriculture businesses.”, declared Traian Halalai, Executive President of EximBank.
EximBank and Agricover Credit have closed the first financing agreement in 2013, the bank granting a loan to the company amounting at 70 Million Lei (more than 15.5 Million Euro).
Agricover Credit is the Agri-Finance Division of Agricover Group that through its strong integrated business model is able to offer specialized solutions for the farmers’ businesses development. Agricover Credit offers innovative financial products to farmers active in vegetal and animal sectors, having a mobile commercial team of financial consultants that cover the entire national territory.
”Developing new financial specialized solutions that support the farming growth is a constant concern of Agricover. We intend to expand our portfolio this year with investments and specialized products that will answer in a fast and simple manner to the financing needs of small and medium range farmers. We have the necessary resources to cover the increasing financing demand of Romanian farmers and the partnership with, EximBank supports us in reaching these targets.” , declared Robert Rekkers, General Manager of Agricover Credit IFN.
About Agricover Credit IFN
Agricover Credit IFN is the first Romanian financial institution specialized in financing the agricultural sector. The company offers to the farmers in vegetal and zootechnic sectors both financing for working capital on short term and investments loans for medium term. Agricover Credit has granted last year a total volume of 988 Million Lei in loans and registered net profits of 22 Million Lei, 28% higher than in 2015. In 2016, the company had 1900 active clients with a 12% increase as compared to the previous year.