BSTDB Helps Finance Romania’s Agribusinesses
Press Release | 20-Dec-2017
The Black Sea Trade and Development Bank
(BSTDB) provided RON 69,502,500 (EUR 15 million equivalent) to Agricover Credit
IFN, a Romanian financial institution specializing in financing the agricultural
sector. This is the Bank’s first local currency loan to a Romanian company. The
BSTDB financing will offer Romanian farmers improved access to the funding they
need to improve productivity, generate added value, and create jobs.
“We are delighted to support the agribusiness
sector, a major income generator in Romania,” said Ihsan Ugur Delikanli after
the signing of the agreement. “Access to finance remains a key challenge for
small and medium-sized Romanian farms, and our cooperation with Agricover will
enable us to help many.”
“This new agreement with The Black Sea Trade
and Development Bank will allow Agricover Credit to keep its fast pace in
developing new innovative loan products to further support the growth of
Romanian farmers,” said Robert Rekkers, General Manager Agricover Credit IFN.
The new loan builds up on the successful
cooperation between BSTDB and Agricover Group that started in 2013.
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Agricover Credit IFN (IFN) - the financing arm
of Agricover Group – is the first financial institution in Romania to offer
financial products exclusively to farmers in the vegetal and livestock sectors.
Its solid knowledge and deep understanding of the specifics of the farming
activity enable the company to develop innovative products dedicated to
financing working capitals and investments in a flexible manner, customized to
the real needs of farmers. For more
information, please visit www.agricover.ro.
The Black Sea Trade and Development Bank (BSTDB) is an international
financial institution established by Albania, Armenia, Azerbaijan, Bulgaria,
Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB
headquarters are in Thessaloniki, Greece. BSTDB supports economic development
and regional cooperation by providing loans, credit lines, equity
and guarantees for projects and trade financing in the public and
private sectors in its member countries. The authorized capital of the Bank is EUR
3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by
Moody’s. For information on BSTDB, visit www.bstdb.org.
Press contact:
Haroula
Christodoulou
Phone:
+30 2310 290533
E-mail:
cchristodoulou@bstdb.org