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Garanti BBVA Romania launches a new financing facility, aiming to support Romanian farmers

Bucharest, March 28, 2022 – Garanti BBVA, part of the Garanti BBVA Romania Group, one of the most dynamic financial groups on the local market, has signed an agreement with the Agency for Payments and Intervention for Agriculture (APIA), in order to support farmers in Romania. Through this partnership, customers have access to a credit facility of up to 90% of the amount due to the APIA SAPS grant, including redistributive payment, greening payment and compensatory measures.

In order to achieve the proposed objectives and to generate a positive impact toward economy, farmers need to find solutions quickly for ensuring a constant financial flow, which is vital when the income depends on the seasonal specifics of the agricultural sector.

For sustaining the customers’ current expenses, Garanti BBVA launches also a new credit product for pre-financing up to 160% of the subsidies to be paid by APIA to the beneficiaries of direct payment schemes.

More specifically, through the new credit product, Romanian farmers can receive in advance up to 160% of the APIA SAPS subsidies, namely: 80% of the subsidy value for the first year of financing and 80% of the subsidy level for the following year.

“Agriculture is one of the most important sectors of the Romanian economy and one of the fields we want to focus on as much as possible in the forthcoming period. With the new credit facility for agriculture, Garanti BBVA aims to support Romanian farmers by reducing their financial burden, as part of our strategy to increase funding for the agricultural sector. We strongly believe that our financial product will be of great interest to Romanian farmers, who will always find a long-term partner in Garanti BBVA for their plans and objectives”, stated Bilge Demirer, Deputy General Manager, Garanti BBVA Romania.

For the new financial support provided by Garanti BBVA a wide range of customers can apply – beneficiaries of direct payment schemes (Single area payment scheme (SAPS), Redistributive payment, Payment for agricultural practices beneficial for the climate and the environment) and the beneficiaries of environmental and climate measures (Measure 10 — Agri-environment-climate, Measure 11 — Organic farming and Measure 13 – Payments for areas facing natural constraints or other specific constraints).

For accessing the loan, in the first phase the customers must open a current account within Garanti BBVA, necessary for submitting the Single Payment Application to APIA for 2022 Campaign latest May, 16th. After the subsidy is confirmed by APIA, the Bank will analyse the customer’s eligibility from lending perspective.

About Garanti BBVA

Garanti BBVA is a universal bank, with a customer-oriented strategy and a strong emphasis on digitalization and sustainability. Present in Romania since 1998, Garanti BBVA focuses on growth and portfolio quality, and today is one of the healthiest financial institutions on the local market. The bank enjoys a solid portfolio of customers, expanding its digital channels and range of quality banking products and services for all business segments: Retail, SMEs and Corporate.

Garanti BBVA is part of Garanti BBVA Group Romania, together with Garanti BBVA Leasing and Garanti BBVA Consumer Finance, which complete the bank’s offer with specific leasing products, fleet management services, as well as consumer loans.

In 2021, Garanti BBVA Romania was declared Superbrand, for the third time in the past five years, emerging from a list of over 1,800 brands analysed by Superbrands Romania.

Garanti BBVA Romania is owned by Garanti BBVA Turkey (TGB), the second largest private bank in Turkey. The majority shareholder of Garanti BBVA Turkey is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).

For further information and to stay updated, please visit www.garantibbva.ro, and follow facebook.com/GarantiBBVARomania and linkedin.com/company/garanti-bbva-romania

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