In order to facilitate access to financing for agricultural producers, the authorities intend to constitute a guarantee fund. In a response to an inquiry made IPN News Agency, the Ministry of Agriculture, Regional Development and Environment said a specialized agricultural fund will be created in a move to offer more opportunities for modernizing agriculture.
The Ministry set up a working group responsible for the working out and promotion of the normative framework for the constitution and functioning of the agricultural loan guarantee fund. The members of the working group made a fact-finding visit to Romania to undertake the best practices in the field. Also, there was contracted a legal expert to provide assistance to the Ministry in designing the legal framework.
They are currently working on the normative framework and will later identify the financial resources needed for the creation of this fund in concert with the Ministry of Finance. The fund is to become functional in 2020.
