Development Fund of APV offers short-term loans to farmers - 250 million CSD

Because of the autumn sowing, Development Fund of Autonomous Province of Vojvodina offered short-term loans for procurement of mixed fertilizers and seeds wheat under very favorable conditions. The open competition for this loan was announced on September 11 and it will be last prior to September 25. All juristic persons who deal with organization, production or processing of primary agricultural products from territory of Vojvodina can apply for the loan. Total budget for these short-term loans is 250 million CSD.

These are the loans for the autumn sowing with very good terms. Annual interest rate is 3%, but with the application of the currency clause. The interest rates in business banks are much higher. Repayment deadline is September 15, 2006, due to which this loan turns to be very favorable. Prior to that deadline, agricultural manufacturers will be able to repay it because they will be paid for the grain.

Individual manufacturers can not obtain this loan unless they apply for it through the collective or if they collaborate with some juristic person. All applicants must deliver the guarantee from a business bank or bill of exchange endorsed by a business bank.