Piraeus Bank credit benefits young farmers

Piraeus Bank credit benefits young farmers

Piraeus Bank has disbursed more than 400 million euros in funding to the primary sector in 2022, with 60% of recipients being young farmers, the bank’s senior executives told journalists on Friday. 

They said that funding covered investment plans (subsidized or not), liquidity and so on. 

The executives further explained that Piraeus Bank has not made any changes in the basic lending interest rate for the agricultural sector and noted that currently only loans based on the Euribor rate have been affected by rising rates. 

So far, enterprises and cooperatives from the primary sector have received funding recommendations worth more than €200 million for projects submitted with the Recovery and Resilience Fund. 

Since 2013, Piraeus Bank has offered funds worth over €1.5 billion to more than 60,000 producers and to more than 420 corporations in the farming sector.

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