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A Guarantee Fund under Rural Development Program Will be Created

The Ministry of Agriculture and Food will create Guarantee Scheme under Rural Development Program 2007-2013 (RDP), the Ministry of Agriculture and Food informs. Budget of Guarantee Fund amounted to EUR 245 000 000, as more than 80% of funds will be paid by European Agricultural Fund for Rural Development. Fund will provide guarantees amounted to 50% of market banks for loans, requested by farmers.

Proposal for creation of guarantee scheme was officially submitted in European Commission by Minister of Agriculture and Food Dr. Miroslav Naydenov. He talked with representatives of European Commission, including Commissioner on Agriculture and Fishery Dacian Cholosh.

Implementation of guarantee schemes aims to facilitate access of beneficiaries’ financing under Rural Development Program, supporting of competitiveness of agricultural and forestry sector, accelerating the realization of investments, which are co-financed with funds from RDP. It will be supported small and medium enterprises, which are beneficiaries under Measure 121 “Modernization of agricultural holdings”, Measure 122 “Improving the economic value of forests”, Measure 211 “Payments to farmers in constrained mountain areas” and Measure 214 “Agri-environmental payment”.

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