BAKU, Azerbaijan, January 20. The Black Sea Trade and Development Bank (BSTDB) and Agricover Credit IFN have signed a €12 million financing agreement to support Romania’s agribusiness sector, Trend reports via the BSTDB.
The facility will provide affordable financing to farmers across Romania, enabling them to increase productivity, generate added value, and create employment opportunities. The agreement marks a continuation of a partnership that began in 2013, through which BSTDB and Agricover have supported farmers and small- and medium-sized enterprises (SMEs) in the country.
Dr. Serhat Köksal, President of BSTDB, said: “This new agreement reflects our confidence in Agricover’s impactful work and in the resilience of Romanian farmers. By expanding access to finance, we are enabling farmers to invest, grow, and continue driving one of Romania’s most vital economic sectors.”
Serhan Hacisuleyman, CEO of Agricover Credit IFN, highlighted the challenges facing small and medium-sized farmers, including rising costs, climate volatility, and limited access to traditional bank lending. “Through this new agreement with BSTDB, we can extend accessible, dedicated financing exactly where it is most needed,” he said.
Agricover, a leading agribusiness and agri-finance group in Romania, operates an integrated model combining financing and services for farmers. BSTDB, headquartered in Thessaloniki, Greece, is an international financial institution supporting economic development and regional cooperation in its 11 member countries, including Romania.
The new financing underscores BSTDB’s commitment to sustainable economic development in the Black Sea region and to strengthening the competitiveness of key industries such as agriculture.