Raiffeisen Bank launched the BIO Credit for farmers certified for organic production (or in the process of getting the license), with a lower-than-standard interest rate, higher amounts lent per hectare, and an extended repayment period.

The certification attesting that the farmers comply with the organic farming requirements is the only document required by the bank to extend the facility to farmers.

"It is the first SME Raiffeisen Bank loan product meant to encourage, support, and increase sustainable agriculture on all three dimensions: economic profitability, respect for the environment, and social responsibility. We wanted to have such a financing product for farmers who do organic farming and to support them on this path," said Raluca Nicolescu, Executive Director of SMEs, Raiffeisen Bank. 

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andrei@romania-insider.com