OTP Bank Romania signed the agreement with APIA to support the beneficiaries of Single Area Payment Scheme (SAPS), 2019 campaign
Bucharest, July 8th, 2019 – OTP Bank Romania signed the agreement with the Agency for Payments and Intervention in Agriculture (APIA) to support the beneficiaries of the Single Area Payment Scheme (SAPS), redistributive payments, payments for agricultural practices beneficial to the climate and the environment and / or compensatory measures and climate), through which the eligible recipients can get up to 85% of the value of the calculated amount, according to the certificate issued by APIA, for carrying out current activities.
The financing granted through the APIA agreement and Guarantee Funds are offered under favourable cost conditions and with a flexible guarantee structure, without personal contribution of the client, in RON, in order to avoid currency risk.
In addition to the APIA SAPS product, considering that agriculture occupies a strategic position in OTP Bank Romania's portfolio, we provide our clients also the Credit for the Double pre-financing of APIA SAPS subsidies, a unique facility in Romania at this time, allowing the pre-financing, in advance, of subsidies for two years, based on a certificate issued by APIA.
Through this facility, we support the development strategy of the agribusiness segment, clients in the agricultural field can receive in advance up to 160% of APIA SAPS subsidies redistributive payment, payment for agricultural practices and compensatory measures (environment and climate), namely: 80% of the grant amount in the first year of financing, but not more than 225,000 euros, while 80% of the grant level will be collected in the next year of financing, but not more than 125,000 euros. Moreover, in the second year of loan, the amount originally granted may be increased, with the possibility of extending the facility for a period of 12 months and the interest rate can be paid monthly, quarterly or annually, according to the client's financial priorities.
Details of funding products for the agricultural sector can be found here.
About OTP Bank Romania
OTP Bank România, subsidiary of OTP Group, is an integrated and self-funded provider of financial services. With an approach based on responsibility, commitment and professionalism, OTP Bank Romania understands its clients' needs and the current market context, being a reliable partner in the area of financial services. The bank ranks 9th by assets in the top of Romanian banking players, as of December 2018.
OTP Group celebrates in 2019, 70 years of existence, while the Romanian subsidiary marks 15 years of presence on the local market. By today, OTP Group has grown into a dominant player in the Central-Eastern Europe market and is regarded as a major banking group even on European scale. The community of around 36 thousand OTP staff serves over 18.5 million customers in 9 countries on a daily basis.