More accessible loans from the European Investment Bank for farmers in Leova

Ion and Galina Barancean have developed a farming business in the fields of their hometown, Tochile-Răducani. In addition to cereal crops, for several years the couple have been producing vegetables that end up on the shelves of a network of supermarkets in the country.

“The good years have motivated us to go ahead and make some investments that will bring us a benefit in the future and, last but not least, the people of the village to have work“, said Galina Barancean, founder of Fruct-Agroprut SRL.

“We have been cultivating sunflowers, corn, barley, and oilseed rape since 2012 and decided to take up gardening. We started growing, on the initiative of my husband, peppers. We put in stakes, thread to be more advanced technology, with irrigation,” noted Galina Barancean, founder of Fruct-Agroprut SRL.

Farmers needed to find the financial resources to build an aqueduct to provide the necessary amount of water to irrigate their crops.

“In total, we have an area of 670 hectares, of which about 30 hectares are covered with gardens. The very investment that we have made, that of irrigation, is a very big investment. We drew water from the Prut, a distance of about 4 kilometres. Thanks to the European Investment Bank project, we were able to work with ProCredit Bank, because our collateral was 30% and that was a very big plus and gave us a possibility to develop. We took about five million and the collateral amount was about 30%, about one million five hundred. We could never take higher amounts, because you had to pledge 130-150%. That’s the way it is with other banks,” Galina confessed.

The investment in the aqueduct, built and installed in 2019, has given the Baranceans the security of a prosperous future at home.

More details are available on the link HERE.