State-owned bank EximBank and Agricover Credit, a company specialized in agricultural financing, extended by two years a loan agreement worth RON 100 million (EUR 22 million) concluded in 2015.

This deal ensures the development of new financial products and services to farmers, according to a press release issued yesterday by EximBank.

“Agriculture is one of the economic sectors with priority right now,” said Traian Halalai, EximBank CEO.

EximBank and Agricover Credit concluded their first financing agreement in 2013 when the bank granted the firm a loan of RON 70 million (EUR 15.5 million), reads the statement.

Agricover Credit offers specialized credit solutions for farmers in Romania. The company had 1,900 active clients last year and granted total financings worth RON 988 million (EUR 220 million). It made a net profit of RON 22 million in 2016, up 28% over 2015.

editor@romania-insider.com