The EBRD is providing the Romanian lei equivalent of five million Euro to Agricover Credit IFN, a firm that finances the agricultural sector in Romania.
It is the second EBRD financing for Agricover Credit IFN, after a ten million Euro loan in 2018. The funding is part of the EBRD’s continued support for access to finance for farmers in the region. Agricover Credit IFN has a leading position in terms of granting agricultural loans and works with more than 15 per cent of all professional farmers.
The firm is part of Agricover Holding SA, a major player in the Romanian agricultural sector, offering agribusiness and financial services to farmers through a highly integrated business model centred around satisfying the essential needs of farmers.
In 2017, the EBRD acquired a 13 per cent stake in Agricover Holding SA.