Bulgarian Farmers to Get BGN 5M Boost

Business » INDUSTRY | April 15, 2014, Tuesday // 14:14| Views: | Comments: 0
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Bulgaria: Bulgarian Farmers to Get BGN 5M Boost File photo.

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.

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Tags: targeted funding, farmers, Postbank, Bulgarian Development Bank, loans, credits
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