Just for 3 months, Raiffeisenbank (Bulgaria) has granted 2,7 mln. BGN according to the agreement with the State Fund “Agriculture” signed in the end of April 2005, to finance the 3 investment programs of the Fund – “Agricultural Techniques”, “Plant growing” and “Cattle grow”. The small and middle sized farmers have used preferential terms and conditions for the financing - mainly for buying harvesters, tractors, etc. As a part of the investment program “Agricultural Techniques” the farmers are using as well subsidies from the Fund, to pay the interest rates of the credit. The common program of the State Fund “Agriculture” and Raiffeisenbank Bulgaria allows the small and middle sized farmers to buy techniques and to renovate their machines without paying any interest rates.
Until the end of August, Raiffeisenbank has granted farmers – small grain producing firms mainly in the regions Burgass and Dobritch.
The agreement between Raiffeisenbank and State Fund “Agriculture”, which finances “Agricultural Techniques”, “Plant growing” and “Cattle grow” programs is term less during the time of the programs. The farmers may apply for financing not in the active season as well – the terms of the loans and the gratis period are defined by the State Fund “Agriculture” and they are dependent on what is going to be financed. The interest rate is up to 9% per year. A farmer can be granted just in case, when he/she has an approved project. The approval has to be made by Raiffeisenbank and State Fund “Agriculture”.