The agreement aims to ease access to finance for a sector that employs more than 20% of Romania's labour force and accounts for around 4% of the country's gross domestic product. The loan will help enhance financial accessibility and support new generations taking over from retiring farmers, enabling them to implement innovations and improve productivity.

"Our partnership with Agricover Credit demonstrates our commitment to support the growth of Romania's agricultural sector," said EIB Vice-President Ioannis Tsakiris. "The financing improves access to resources for micro-enterprises and strengthens opportunities for young farmers in a sector that is vital for Europe."

Agricover Credit is Romania's leading non-bank financial institution lending exclusively to farmers. Potential beneficiaries include wheat, dairy and livestock producers. "Our collaboration with the EIB represents another step forward in addressing the challenges faced by micro agricultural enterprises in Romania," said Agricover Credit Director General Serhan Hacisuleyman. "This facility will empower farmers to adopt modern technologies and help transform the Romanian agricultural landscape."

The agreement promotes sustainable business practices, technological innovation and social fairness. Agricover will also benefit from Social Inclusive Finance Technical Assistance advisory services provided by EIB under the InvestEU Advisory Hub.