New credit facility to be available to farmers from 15 March

Chisinau, March 1 /MOLDPRES/- A new credit product for the agricultural sector has been developed by the Ministry of Agriculture and Food Industry (MAIA) and the Entrepreneurship Development Organization. The instrument was consulted today at the ministry with farmers, representatives of commercial banks, the Ministry of Finance and the State Tax Service.

The product is intended for circulating assets and will be a permanent instrument. With a state guarantee of 1 million 600 thousand lei, the credit product is open to all farmers. In order to meet immediate needs, special conditions have been approved in the first year and will be amended later.

Thus, for the year 2024, the credit period is up to 60 months, and for future years it will be adjusted to 36 months. Also, the guarantee period for 2024 is set at 18 months, with a subsequent reduction to 12 months. The product will become available from 15 March, and interested farmers are encouraged to approach their banks to access the financial instrument.

Also, as of today, cereal producers can apply for the Emergency Agricultural Credit, worth 500 thousand lei, which will allow them to start spring agricultural work.