A line of long-term loans was launched by Crédit Agricole banka Srbija a. d. for investment in projects of energy efficiency and renewable sources in agricultural production. They are denominated in euros and are approved for up to 60 months with an optional grace period of a maximum of 12 months. The bank said the loans are worth more than EUR 5,000 and the participation is up to 20%.
The credit line is designed for the purchase of energy efficient equipment and agricultural tools which apply improved systems for processing to reduce energy consumption in field work. Heating, cooling and irrigation systems are included. Financing can be used for materials, pumps with electronic regulation, solar panels and heat pumps.
The loans can be used by registered farms, cooperatives and enterprises and entrepreneurs which generate more than 50% of income from agricultural production. The line is launched in cooperation with the Guarantee Fund of Vojvodina, which secures the guarantee, the bank said.