Moldovan authorities examined crediting, tax facilities, foreign exchange operations for farmers

Chisinau, August 18 /MOLDPRES/- The recovery of the situation in the agricultural sector as a result of requests from producers was the main topic discussed yesterday by Minister of Agriculture and Food Industry Vladimir Bolea at a meeting with decision-makers of the National Bank of Moldova (BNM) and the Ministry of Finance.

The parties discussed the need to adopt measures to ensure the sustainable development of farmers' activities and to prevent major difficulties in the agricultural business environment. Thus, aspects related to the rescheduling of loans for farmers, the possibility of recrediting, the revision of the reclassification conditions for investment loans in agriculture and the possibility of access to investment loans were analyzed. In the context, Vladimir Bolea said that following discussions with commercial banks, it was agreed on the non-application of penalties for a certain period to farmers who have registered a good credit history. BNM representatives stated that any financial facility offered to customers in the agricultural sector remains at the discretion of commercial banks.

Another topic examined was foreign currency transfers for goods imported/exported from/to the Russian Federation. BNM representatives communicated that, following the sanctions imposed by the international financial system against Russia, money transfers in foreign currency are at a standstill and conditioned by the systems and individual positions of the European banking sector. In this context, Moldovan farmers are forced to identify alternative solutions.

The leadership of the Ministry of Agriculture also communicated about the problem of the lack of domestic insurance companies capable of securing financial claims, this being a mandatory condition in identifying new outlets and expanding commercial relations, especially with perishable products and value-added horticulture.

The representatives of the National Bank of Romania and the Ministry of Finance stated that they will analyze what was discussed and come back with recommendations and solutions.

Photo: MAIA