OTP Bank Romania launches new financing solution for local farmers

OTP Bank Romania launches a new financing solution for the local agribusiness named “Ceiling for financing agricultural crops”, for which no additional guarantees are requested.

The “Ceiling for financing agricultural crops” has a credit limit of up to 5 million RON, being intended to finance spring, autumn and corn crops, and helps farmers that need financial support and working capital in order to finance their seasonal agricultural works. For this purpose, the product covers expenditures incurred throughout the production cycle for items such as agricultural inputs, fuel, seeds, crops treatment or harvesting costs.

“This credit product is the result of collaborations that we have been developing for several years with our partners in the agricultural sector. It is an area with a very good potential, with a major importance in the local economy, and for which we design new products and assign significant resources. We work closely with local farmers, and we constantly see the change in their funding needs, that is why we now launch this customized product, according to the specifics of the crop. Thus, they can carry out specific works according to the agricultural planning and benefit from a pressure-free repayment period”, said Roxana Hidan, Deputy CEO of the Business Division, OTP Bank Romania.