{"id":7714,"date":"2020-06-11T10:04:46","date_gmt":"2020-06-11T07:04:46","guid":{"rendered":"http:\/\/www.eximbank.ro\/en\/?p=2831"},"modified":"2020-06-11T10:04:46","modified_gmt":"2020-06-11T07:04:46","slug":"eximbank-and-agricover-credit-ifn-extend-their-cooperation-and-increase-the-loan-agreement-up-to-200-million-lei","status":"publish","type":"post","link":"https:\/\/www.eximbank.ro\/en\/2020\/06\/11\/eximbank-and-agricover-credit-ifn-extend-their-cooperation-and-increase-the-loan-agreement-up-to-200-million-lei\/","title":{"rendered":"EximBank and Agricover Credit IFN extend their cooperation and increase the loan agreement up to 200 Million Lei"},"content":{"rendered":"\n<p><strong>Bucharest, June 15, 2020 \u2013<\/strong> EximBank and Agricover Credit IFN, the main financial institution aiming at financing the Romanian agriculture have agreed to extend and supplement the loan agreement existing between the two parties in order to support the necessary resources for developing new financial products and services for the Romanian farmers. <\/p>\n\n\n\n<p>\u201dThe\nnew agreement provisions an add-on of 50 Million Lei and the extension of the\ndisbursement period up to 2022. Agriculture is a strategic domain for us and\nthe partnership with Agricover Credit IFN allows us to actively contribute to\nthe support of Romanian agri-business especially now when the farmers already\nhave a difficult time and need flexible and fast financial support. We are thus\ncontributing to offer the solutions for covering the cash needs of local\nfarmers helping them to overcome the present set-backs and develop their\nbusinesses.\u201d, said &nbsp;Traian Halalai, Executive\nPresident of EximBank. <\/p>\n\n\n\n<p>EximBank\nand Agricover Credit IFN have concluded the first financing agreement in 2013, with\nthe bank granting a loan of 70 Million lei to the company. The agreement has\nbeen extended year over year supporting thousands of local farmers. In 2019 Agricover\nCredit IFN has granted loans amounting at 1.88 Billion lei, up by &nbsp;16% as compared to &nbsp;2018, whilst the active customers number reached\n3.434, increasing by 23% as compared to last year.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"690\" height=\"255\" src=\"https:\/\/www.eximbank.ro\/en\/wp-content\/uploads\/2020\/06\/10540607_344952108996967_1251687062563442307_o-768x284-1-690x255.jpg\" alt=\"\" class=\"wp-image-2832\" srcset=\"\/wp-content\/uploads\/2020\/06\/10540607_344952108996967_1251687062563442307_o-768x284-1-690x255.jpg 690w, \/wp-content\/uploads\/2020\/06\/10540607_344952108996967_1251687062563442307_o-768x284-1-300x111.jpg 300w, \/wp-content\/uploads\/2020\/06\/10540607_344952108996967_1251687062563442307_o-768x284-1.jpg 768w\" sizes=\"auto, (max-width: 690px) 100vw, 690px\" \/><\/figure>\n\n\n\n<p>Agricover Credit IFN, a subsidiary of Agricover Holding\nS.A., is involved in financing agriculture and has been efficiently supporting\nRomanian agriculture for 12 years offering specialized solutions for farmers\u2019\nbusinesses development.&nbsp;Agricover Credit IFN offers innovative financial\nproducts for financing the working capital and the investments of the farmers\nactive in vegetal and animal sectors, having a mobile commercial team of\nfinancial consultants that cover the entire national territory. <\/p>\n\n\n\n<p>\u201dWe\nhave a good understanding of Romanian agriculture and get to know the needs of\neach farmer which creates a competitive advantage for us in terms of developing\nspecific financial solutions that meet the potential cash flow demands. Agriculture\nis less impacted by the pandemic but the extended drought period that impact Southern Romania generates uncertainty and might have an\nadverse impact on future crops and farmers\u2019 revenues. Considering this\ndifficult background, we continue supporting the farmers, help them face the\nunwanted situations and offer them highly performance financial solutions for\ndeveloping their businesses. The recent increase of our company working capital\nby almost 47 Million lei and the add \u2013 on to the agreement in place with\nEximBank will enable us to move one step forward in order to offer to our\npartners, the farmers, real solutions adjusted to the new economic conditions.\u201d,\ndeclared Robert Rekkers, General Manager, Agricover Credit IFN.<\/p>\n\n\n\n<p><strong>About EximBank<\/strong><\/p>\n\n\n\n<p>EximBank is a\nspecialized institution actively involved in supporting and promoting the\nRomanian business environment. Its specific financial instruments are\nexclusively targeted to the corporate segment and may be accessed in\nadvantageous conditions by any type of company, either SME or big company,\ninvolved in international transactions or solely active on local market. The\ncompanies benefit from a competitive portfolio of treasury, cash management,\ntrade finance and factoring products, that come to add up to the financing and\nguaranteeing&nbsp; offer. In addition, acting\nas a state agent on the Romanian market of guarantees and insurance, EximBank\nis the main channel for the public funds made available by the state to be\ndisposed in the real economy. Additional details at <a href=\"http:\/\/www.eximbank.ro\/\">www.eximbank.ro<\/a>.<\/p>\n\n\n\n<p><strong>About\nAgricover Credit <\/strong><\/p>\n\n\n\n<p>Agricover Credit IFN, subsidiary of Agricover Holding S.A., is the first Romanian financial institution offering financial products exclusively to farmers active in vegetal and animal sectors. Knowing and understanding the specifics of agriculture allow the development of innovative financial products for financing the working capital and investments in a flexible manner, tailored to the farmers\u2019 needs.&nbsp; Agricover Credit IFN has developed in a fast pace becoming in just a few years one of the key players in financing the farmers. Agricover Holding combines the activities of Agri-Business and &nbsp;Agri-Finance. Agricover Group has a strong integrated business model and positions itself as a key component of supporting the whole agriculture chain efficiency by offering specialized solutions for Romanian farmers&#8217; businesses development. Additional details at <a href=\"http:\/\/www.agricover.ro\">www.agricover.ro<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bucharest, June 15, 2020 \u2013 EximBank and Agricover Credit IFN, the main financial institution aiming at financing the Romanian agriculture have agreed to extend and supplement the loan agreement existing between the two parties in order to support the necessary resources for developing new financial products and services for the Romanian farmers. \u201dThe new agreement [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[41],"tags":[],"class_list":["post-7714","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EximBank and Agricover Credit IFN extend their cooperation and increase the loan agreement up to 200 Million Lei - 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