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Agricover Agrifinance Facility

Romania | Financial Institutions

Identification Code:: OP/17/0055
Total Operation Cost:: 69.502.500 EUR
Maturity:: 84 months
Operation Status:: BSTDB Approved Amount – Approval Date

15.000.000 EUR – 17 Nov 2017
: BSTDB Signed Amount – Signed Date

69.502.500 RON – 19 Dec 2017
: Status:
Completed
Description and Purpose of the Operation:: Long-term loan to Agricover Credit IFN to provide finance for the grain farmers in Romania which are suppliers of the Group's processing and trading companies
Countries of Operation:: Romania (100,00%)
Financial Product:: Loans
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: Agricover Credit IFN
Co-Financers/Participants:: n.a.
Guarantors/Sponsors:: n.a.
Developmental and Regional Cooperation Impact:: Agricover is an entity involved in agribusiness in Romania, therefore fits the Bank's objective to provide long-term financing in this sector. Provision of financing to non-banking financial intermediary that has the capacity to provide financing to SME in agriculture is an important objective met by this project. Financing SMEs in agriculture will streamline export potential of the Group to BSTDB member countries and beyond, thus the project has some regional cooperation element as some of the cereal exports will also be directed to Turkey, Russia, Ukraine and Greece.
Environmental Classification and Impact:: Agricover's financial services are guided by their Environmental and Social Responsibility Policy (2012), which establishes the main environmental and social objectives. It is consistent with the BSTDB requirements towards FIs operations.
Operation Leader:: General Industries, Transport, Tourism 2
E-mail:: gitt2@bstdb.org