Bulgarian Farmers to Get BGN 5M Boost
Bulgarian farmers will receive BGN 5M as part of an agreement between Postbank and Bulgarian Development Bank for targeted funding of agricultural producers.
Postbank loans will be offered at preferential interest rates up to 5.75 %. An additional benefit for the farmers is the lack of credit management fee, financial website Econ.bg informs.
Farmers can benefit from two types of credits - operating and investment loans. The maximum amount of funding that can be allocated under the program is BGN 500,000.
The financial institution stated that the sector is crucial for Bulgaria's economy and therefore the bank is committed to support the industry growth.
- » Bulgaria 'European Leader' in Gold, Copper Extraction
- » Bulgaria's Labor Inspectorate to Check 400 Construction Companies
- » Bulgaria's Industrial Production Down by 1.3% in June
- » Farmers Agree on Maximum EU Agriculture Subsidies of EUR 300,000
- » Bulgarian Car Market Grew 15% from January 2014
- » Retail Trade Volume Decreases Throughout EU in May 2014