Bucharest, October 7, 2021 – OTP Bank Romania and the Agency for Financing Rural Investments (AFIR) have signed the partnership to facilitate the process of absorbing European funds allocated for the agricultural sector and rural entrepreneurs through the European Fund for Agriculture and Rural Development (FEADR) in the transition period 2021-2022.
In this partnership, OTP Bank Romania makes available, for non-reimbursable financing applicants and beneficiaries of financing contracts to be concluded with AFIR in the 2021-2022 Transition Period, adapted financing products, identifies solutions for absorbing funds, facilitates access to financing and provides financial advice for each stage of the projects carried out by clients.
„The agribusiness sector had a great evolution in recent years, and we have been actively involved in supporting Romanian entrepreneurs through access to financing and specialized consultancy. The partnership with AFIR allows us to continue in this direction and to contribute to the absorption of non-reimbursable funds, destined for Romanian agriculture. This is achieved through adapted products and increasing the access to financing, for the development of agriculture and rural environment", said Roxana Hidan, Deputy CEO, Business Division Coordinator, OTP Bank Romania.
In addition, we support clients by offering specialized financial advice and guidance, right from the start, with a free audit off applicants eligibility and the investment viability of the project. The procedure is performed free of charge by the consultants team of OTP Consulting Romania, which offers advice in optimizing the investment to multiply the chances of obtaining non-reimbursable financing.
Moreover, OTP Consulting also offers a discount for OTP Bank Romania clients regarding the consulting services for the development and submission of the application for financing, and professional assistance until the completion of the project monitoring.
Through this protocol we focus on applicants for non-reimbursable financing through PNDR, and beneficiaries with financing contracts concluded with AFIR in the 2021-2022 Transition Period. Included in these categories are local farmers, agricultural cooperatives, producer organizations, but also micro, small, medium and large companies in rural areas.
OTP Bank proposes solutions for co-financing eligible expenses related to projects financed by AFIR, loans for pre-financing the non-reimbursable loan until the grant is received, loans for financing non-eligible expenses or bridge loans for pre-financing the main grant.
About OTP Bank Romania
OTP Bank Romania, a subsidiary of OTP Group, is an integrated and self-financed provider of financial services. With an approach defined by responsibility, commitment and professionalism, OTP Bank Romania understands the needs of clients and the current context of the market and is a trusted partner in the provision of financial services. The bank ranks 9th in terms of assets in the ranking of banking players in Romania, as of December 2018.
OTP Group has more than 70 years of activity in the financial sector in Central and Eastern Europe, while the Romanian subsidiary has marked 16 years of presence in the local market. Promoting innovation, stable growth and integrated financial services, OTP Group has become a dominant player in the Central and Eastern European market and is considered an important banking group even on a European scale. The community of about 40 thousand employees serves nearly 16,3 million customers daily in 11 countries.
For more info:
Mihaela Duică
PR Manager
OTP Bank Romania, www.otpbank.ro
E-mail: mihaela.duica@otpbank.ro
