Romania’s Rural Credit Guarantee Fund (FGCR) helps agricultural producers and small businesses get access to credit and other financial instruments.
The fund is playing a crucial role in Romania’s National Rural Development Progamme, which aims to modernise Romania’s farms, help farmers acquire modern equipment, and develop the country’s capacity to process raw materials. Romania’s agriculture sector has strong development potential and is increasingly attracting investors.
General Director Dr. Veronica Toncea explains that the Rural Credit Guarantee Fund won the tender to administer some €220 million in EU funds for agricultural producers and small businesses. She says, “Our strategy is to support the beneficiaries of European funds in order to ensure financial backing for launching projects. The National Rural Development Programme has an allotment of €8 billion in EU funds, which is available for the whole period of The Programme, respectively 2007-2013. Our fund assists domestic and foreign investors by assuming risks and providing guarantees.”
The Rural Credit Guarantee Fund also demonstrates to investors around the world that Romania is absorbing EU funds in the proper way.