EximBank, a state-controlled bank specialized in corporate lending and other financial instruments for companies (particularly exporters), has signed a financing agreement worth EUR 28.8 million with Agricost, the largest grain and oilseed farm in Romania by cultivated area, controlled by UAE’s Al Dahra group.

The facility will support Agricost to continue its investments in the farm that the company operates under a long-term lease contract with the Romanian state in the Big Island of Braila, on the Danube.

"We are convinced that this partnership will contribute significantly to strengthening the Romanian agribusiness sector," said Traian Halalai, chief executive of EximBank.

Al Dahra group from the United Arab Emirates (UAE) took over  Agricost in 2018, and has set as strategic objective to maximize yields per hectare, optimize production and processing costs, and increase the cultivated land area, develop the irrigation system, the agricultural equipment park and the logistics infrastructure, assuming a large investment program for the next four years.

(Photo: Pixabay)

editor@romania-insider.com