Economic

Ag Crisis: Banks Reject Farmers' Loans

Further discussions about the Emergency Agricultural Credit took place between Minister Vladimir Bolea and farmers.

Small and micro-scale cereal producers complain that some commercial banks refuse to offer them loans worth up to 500,000 lei. Bolea explained that only six banks offer these loans, however, with certain conditions.

“Regarding the Emergency Credit, which was supposed to help farmers in the south of the country. We have experienced calamities that were disastrous for the southern areas and at the moment it is not clear for whom the emergency credit is,” said a farmer.

“I didn't come to do PR, I'm in the same state as my colleagues, I went to banks, I discussed. We wanted to discuss this very serious problem we are facing,” another farmer argues.

“We are receiving notifications from economic agents that their applications are being rejected by banks, we have answers both in writing and orally, there are even more. Please, maybe find in your agenda in the near future to hold a meeting of the commission created with the involvement of banks to analyse in detail,” remarked Ion Plămădeală, president of the Forța Fermierilor Association.

“The files are checked by the banks, the decisions are taken separately, but later the banks send the files to the ODA and the ODA guarantees this credit from the state. Only at one bank we already have 25 approved. Unfortunately, out of the 11 commercial banks that we have in the Republic of Moldova, we only have six banks that work with farmers and offer agricultural loans,” specified Vladimir Bolea, Minister of Agriculture and Food Industry.

Following the protests and discussions between the authorities and farmers, it was decided that from March 1st, the Emergency Agricultural Credit will be offered to small and micro-scale cereal producers with a total value of five hundred thousand lei and a state guarantee of 90 percent.

Translation by Iurie Tataru

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