Agriculture, Covid-19, Crisis, EU – Baltic States, Financial Services, Funds
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Friday, 29.03.2024, 12:37
Estonian Rural Development Foundation's EUR 200 mln aid measure to become available Friday
Minister of Rural Affairs Arvo Aller has increased the Rural Development Foundation's capital and entered into an administrative agreement with the foundation allowing for rural entrepreneurs to start using the financial measures in the total sum of 200 miln euros aimed for mitigating the impact of the coronavirus crisis.
"The steps required for making available the financial measures aimed at rural entrepreneurs struggling due to the coronavirus have now been taken," Aller said in a press release.
"While ordinarily it is banks who are main partners to entrepreneurs, in the current crisis period, measures by the Rural Development Foundation provide additional options to bank services for finding the best possible financing solutions for businesses," chairman of the management board of the Rural Development Foundation Raul Rosenberg said.
The aid measures to be implemented through the Rural Development Foundation consist of loan guarantees in the total amount of 50 mln euros, loans totaling 100 mln euros and farmland sale-leaseback transactions in the amount of 50 mln euros.
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