AgroBank offers preferential loans to farmers affected by drought with 615 million euros available.

VALLADOLID, 5 Jun. (EUROPA PRESS) –

AgroBank, CaixaBank’s business line specializing in the agri-food sector, has made a loan available to customers with preferential conditions, to alleviate the decrease in income caused by episodes of drought, for which it has 615 million euros.

The Agroinversión loan will allow the additional liquidity needs to face this campaign to be repaid in longer periods of time and will have an optional grace period of one year, extendable up to four years in the event of total loss of woody crops.

To facilitate and expedite the management of these loans, AgroBank has 615 million euros in pre-approved financing available to its customers in Castilla y León.

In addition to this initiative, AgroBank facilitates its clients’ access to other alternatives such as the lines of the public company SAECA (Sociedad Anónima Estatal de Caución Agraria), which offer a term of up to 15 years with an optional grace period of up to three years; working capital loans of up to 5 years to cover campaign expenses and losses; the possibility of receiving an advance of Agroseguro compensation with a term of up to six months; and access to the different lines of agricultural and livestock insurance.

The territorial director of CaixaBank in Castilla y León, Belén Martín, explained that the agri-food sector “is a key element in the economy and in recent years it has shown its resilience” to which she added that “in complex times” this entity reinforces its “commitment by facilitating financing for farmers and ranchers”.