SUBSIDIZED LOANS FROM THE MINISTRY OF AGRICULTURE IN COOPERATION WITH 11 BANKS (DEADLINE: NOVEMBER 1, 2020)

4. June 2020.

The Ministry of Agriculture, in cooperation with commercial banks, will, this year too, subsidize part of the interest on farmers' loans with commercial banks.

This type of lending has proven to be very popular because it makes it easier for farmers to access loans and allows them to obtain funds to improve production under favorable conditions.

According to the information received from the Ministry of Agriculture, this institution has signed agreements with 11 banks. The Ministry signed the agreements on subsidized loans with the Credit Agricole Bank Serbia, the NLB Bank, the ProCredit Bank, the Vojvodjanska Bank, the Commercial Bank, the Postal Savings Bank, the AIK Bank, the Intesa Bank, the Halkbank, the Sberbank and the UniCredit Bank.

The loan support will be granted for:

- Livestock development, which includes the purchase of animals and animal insurance premiums,

- Development of farming, fruit growing, viticulture, vegetable growing and floriculture,

-Investments in agricultural machinery and equipment,

- Procurement of animal food,

- Investments in specific types of machinery and equipment used in crop production.

The loans are approved and paid in dinars.

The fixed interest rate is 3% per annum or 1% for a natural person residing in an area with difficult working conditions in agriculture.

Eligible to get the loan support are natural persons - owners of commercial family farms, entrepreneurs and legal entities.

A natural person can exercise the right to loan support provided that the total loan amount is up to 6,000,000 dinars.

A legal entity can exercise the right to loan support provided that the total amount of the loan is up to 18,000,000 dinars.

Loan support is realized by submitting a written request to the bank with the submission of the supporting documentation.

The deadline for submitting applications for loans to the bank is November 1 of the current year.

Source: Agronews and Coordination Body