Patria Credit IFN accesses a new îmloan from the European Fund for Southern – Eastern Europe (EFSE), its long-term partner. The amount of the loan is €2.5 million (RON equivalent) and will enable the non-bank financial institution to develop the financing capacity of agricultural producers, farmers and rural entrepreneurs in Romania in national currency.
Patria Credit IFN accesses a new îmloan from the European Fund for Southern – Eastern Europe (EFSE), its long-term partner. The amount of the loan is €2.5 million (RON equivalent) and will enable the non-bank financial institution to develop the financing capacity of agricultural producers, farmers and rural entrepreneurs in Romania in national currency.
Patria Credit IFN is one of the most important microfinance institutions on the Romanian market and a strong name îndul microîndul microîndertakings and small producers in rural areas, în particular those operating în the agricultural sector. Patria Credit IFN has been an EFSE partner lending institution since 2006, and in addition to the funding it has received so far, it has benefited from various technical assistance projects supported by the EFSE Development Facility, the main aim of which is to increase its capacity to reach its targeted clients in an efficient and responsible manner.
Christoph Tiskens, Chairman of the EFSE Board of Directors, said: „EFSE and Patria Credit have a long-standing relationship of almost 13 years. We look forward to working together to support economic development and promote responsible financing îin rural areas. With this additional îcurrency facility, we aim to continue to provide access to finance to agricultural producers, farmers and rural entrepreneurs who are not naturally hedged îcurrency risk.”
Raluca Andreica, Managing Director of Patria Credit IFN, said: „We are „ncânted by EFSE's strong partnership and support „in pursuing our mission: îimproving financial and social inclusion îin rural areas. The loan will enable us to further support the development of agricultural producers, small farmers, entrepreneurs and local communities.