Agriculture minister signs protocol with EBRD

The Agriculture Ministry and the European Bank for Reconstruction and Development have signed a protocol in Belgrade.

Izvor: Beta

Wednesday, 28.01.2009.

17:04

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The Agriculture Ministry and the European Bank for Reconstruction and Development have signed a protocol in Belgrade. The protocol calls for financial assistance from the bank to set up a product filing system for Serbian agricultural products. Agriculture minister signs protocol with EBRD The EBRD did not state the actual scale of the assistance it would be giving, but it would be enough for the banking sector to absorb, and the amount would depend on the interest of farmers for such securities, Agriculture Minister Sasa Dragin said. Dragin said that the condition for using EBRD funds was the adoption of a law on public warehouses for agricultural products, which parliament is expected to adopt by the end of March. Implementing the public storage system will help the agricultural production system, so producers will be able to take out loans based on their products instead of having to mortgage their homes or land, he said. Dragin explained that this would enable producers not only to store their products, but to sell them at the best moment and at the best prices. Asked whether he expected products to be put in public storage this year, Dragin said that he would be happy to see that happen, but that the ball was in parliament’s court. Gilles Mettetal, the EBRD’s director for agribusiness, who signed the protocol with Dragin, said that the bank would finance programs for public storage facilities with local banks with between EUR 50-100mn. He said that the EBRD had helped to implement a similar system in Slovakia, Bulgaria, Hungary, Ukraine, Kazakhstan and Russia, adding that the program had proven successful, because it had helped with liquidity in the agricultural system, where land could not be used as a guarantee on new loans. Mettetal said that Serbia had great unrealized potential and the capacity to be one of the leading food producers in the region.

Agriculture minister signs protocol with EBRD

The EBRD did not state the actual scale of the assistance it would be giving, but it would be enough for the banking sector to absorb, and the amount would depend on the interest of farmers for such securities, Agriculture Minister Saša Dragin said.

Dragin said that the condition for using EBRD funds was the adoption of a law on public warehouses for agricultural products, which parliament is expected to adopt by the end of March.

Implementing the public storage system will help the agricultural production system, so producers will be able to take out loans based on their products instead of having to mortgage their homes or land, he said.

Dragin explained that this would enable producers not only to store their products, but to sell them at the best moment and at the best prices.

Asked whether he expected products to be put in public storage this year, Dragin said that he would be happy to see that happen, but that the ball was in parliament’s court.

Gilles Mettetal, the EBRD’s director for agribusiness, who signed the protocol with Dragin, said that the bank would finance programs for public storage facilities with local banks with between EUR 50-100mn.

He said that the EBRD had helped to implement a similar system in Slovakia, Bulgaria, Hungary, Ukraine, Kazakhstan and Russia, adding that the program had proven successful, because it had helped with liquidity in the agricultural system, where land could not be used as a guarantee on new loans.

Mettetal said that Serbia had great unrealized potential and the capacity to be one of the leading food producers in the region.

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