In a ceremony in Bucharest with Romanian agriculture Minister, Petre Daea and EIF Secretary General, Maria Leander, Commissioner Hogan said: "Financial instruments and access to credit for farmers has been a key priority for me as Commissioner for agriculture. Access to credit is essential for farmers to modernise and develop their agri-businesses. By investing to make their farms more competitive and more efficient, our farmers can improve their business prospects as well as reducing their climate and environmental impact. I commend the EIF for implementing this mandate, and I look forward to seeing how Romanian farmers and rural entrepreneurs make the most of this finance."
Managed by the EIF under the Romanian rural development programme, this risk-sharing loan instrument is a very useful and long awaited instrument by farmers, processors and entrepreneurs from rural areas. Especially in Romania, risks linked to agricultural activities are high and have a big influence on interest rate levels and collaterals required for a loan.