Banca Intesa starts receiving applications for subsidized agriculture loans

Banca Intesa today started receiving applications for loans for investments in agricultural production as part of this year's subsidized loan programme for agriculture, which is being implemented in cooperation with the Ministry of Agriculture and Environmental Protection.

The offer includes short-term and long-term dinar loans for investments in livestock, crop, fruit and vegetable growing, loans with even more favourable interest rates for young people and women holders of farming households, as well as a special long-term dinar loan for agricultural machinery purchase.

The subsidized loans have a 3% fixed interest rate per annum and are available in amounts of up to RSD 6 million for holders of registered farming households, or up to RSD 18 million for cooperatives. The repayment period is up to three years and there is a possibility of using up to a 1-year grace period. For farmers under the age of 40 and women holders of farming households, as well as for farms located in areas with difficult working conditions when agriculture is concerned, an interest rate of 1% per annum is envisaged, while the loans intended for investments in certain types of agricultural machinery are granted with a repayment period of up to 5 years.

Loans can be used for investments in working and fixed assets, namely for purchase of raw materials, livestock, agricultural machinery and equipment, and stock feed and are intended for owners of registered farming households, agricultural cooperatives and legal persons registered as farming households, regardless of whether they are Banca Intesa’s clients or not.