EBRD extends EUR 10 mln loan to Romania’s leading agricultural inputs distributor
The European Bank for Reconstruction and Development (EBRD) will extend a EUR 10 million loan to Romania's leading distributor of agricultural inputs, Agricover, to help it meet growing working capital needs.
Agricover supplies plant protection and nutrition products, certified seeds, fuel, and innovative agricultural solutions to Romanian farmers.
The new loan will provide additional working capital as the company prepares to bolster its growth strategy to address the needs of small and medium farms facing challenging economic conditions. The funds will also enable Agricover to expand further, including into more remote regions of Romania, and continue enhancing its corporate governance for socially responsible and sustainable economic development.
The company is a subsidiary of Agricover Holding, a major player in the Romanian agribusiness sector, where the EBRD has been a shareholder since 2017. In recent years, the EBRD has also extended loans worth EUR 20 million to the group's financial division - Agricover Credit IFN, which provides loans to local farmers.
Agricover Holding recently announced plans to draw EUR 40 million through a bond issue on the Bucharest Stock Exchange.
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