Credit Europe Bank has signed with APIA and FGCR a three-party convention for granting loans to the farmers who will benefit from the Surface Support Scheme

"Through the new convention Credit Europe Bank intends to support the farmers who need money for their spring crops and who cannot wait for the may-june subsidies. We are glad that we were able to establish this partnership and we are open to any other business proposals for projects with as many institutions, ministries, guarantee funds, associations and any organizations involved in supporting the farmers", stated Mr. Mustafa Cavusoglu, SME Marketing Head, Credit Europe Bank. Following the signing of the three-party Agreement APIA-FGCR-Credit Europe Bank, APIA will certify the number of hectares for which the farmers will receive subsidies; Credit Europe Bank will grant a loan representing maximum 70% of the value of these subsidies and FGCR will guarantee 50% of the loan. This convention is to acknowledge the support given by Credit Europe Bank to the farmers and the interest of financing / co-financing the EU-funded agricultural projects. In August 2008 Credit Europe Bank launched the Agro Capital IMM product designed to cover the working capital needs in agriculture and will soon launch a product designed to financing investments, Agro Invest IMM. Information related to the credit products dedicated to the agricultural sector can be obtained from the Credit Europe Bank (ROMÂNIA) S.A. branches, from the Bank's web page: www.crediteurope.ro or by consulting the dedicated SME portal: www.crediteuropeimm.ro.