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Michele Famis, French Ambassador to Romania
Romanian authorities have declared their intention to improve the absorption of EU funds»
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Suppliers double up as creditors to fund cash-strapped farmers

Due to a financing crisis in Romania’s countryside, multinational agricultural companies are turning into creditors for farmers. Report by Nicoleta Banila

March 2011 - From the Print Edition

Providers of seeds and fertilisers are helping prop up the agricultural sector by transforming into lenders to farmers by providing lines of credit that can last years.
“Banks are reluctant to grant loans to farmers,” says Martin Schuldt, general manager at Cargill Romania. “We are substituting for the banks.”
Part of the problem was the Government delayed paying farmers subsidies until after the Spring – the time when farming supply needs are at their most acute.
This year the A...

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