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International Asset Bank signed a memo of understanding with Agriculture State Fund

10 July 2007

On July 06, 2007 International Asset Bank signed a memo of understanding with the Ministry of Agriculture and Forestry and Agriculture State Fund – Paying Agency for joint activity in the support of agricultural producers in the process of EU-funds absorption.

Agricultural producers that had furnished an application for financial support to the Paying Agency may conclude a credit contract with International Asset Bank. The memo affirms that the Bank shall credit the activity of agricultural producers prior to provisioning of the resources on the part of the Paying Agency observing the schedules and measures for uniform area-dependant payment. Bank’s advance support shall help agricultural producers invest resources in their own production or farm prior to obtaining EU-subsidies.