Ziraat Bank has launched a new loan application that will allow farmers to pay their debts accumulated due to the electricity and water used in their agricultural activities under favorable conditions. With the loan, farmers who are currently engaged in agricultural production and have official subscriptions will be able to pay off their accumulated agricultural electricity and irrigation debts and pay their debts to the bank with a maturity of 36 months. Thus, on the one hand, producers will be allowed to pay their accumulated debts in a more reasonable time, and on the other hand, it will contribute to the continuation of agricultural production activities without disruption.
As it is known, in Ziraat Bank’s agricultural loan applications, loans are provided to producers to cover their electricity and irrigation expenses. However, producers’ occasional delay in such payments may cause electricity and irrigation debts to accumulate, and legal prohibition of water use due to delayed or unpaid debts may also cause disruptions in production.
In order to benefit from the loan, producers must have electricity and water subscriptions in their name and agricultural production activities must continue. Producers who meet these conditions will be able to apply to the Ziraat Bank Branch where they work with a letter showing the debt settlement amount from the institution/company they subscribe to. The bank will determine the credit limit by carrying out the necessary studies. The loan will not be paid to the producer, but will be transferred directly to the account of the relevant company, ensuring that the accumulated debts are closed.
“Our goal is to ensure that production continues uninterrupted”
Stating that with this loan, they aim to ensure that agricultural production is not disrupted for the specified reasons and that the accumulated agricultural electricity and irrigation debts of producers are paid over a reasonable period of time during the pandemic period, where the sustainability of agricultural production and food supply security are more prominent than ever, Ziraat Bank Marketing Group President Ferhat Pişmaf said, “We offer our services to our farmers.” We continue to provide strong financial support. With this loan, our farmers will pay off their accumulated agricultural electricity and irrigation debts at once, and they will be able to pay the related loan debts within a 36-month period with an appropriate interest rate. The interest rate of the loan will be fixed throughout the term. How much will our producers pay when taking out the loan? “He will also know that he will make a repayment. Loan payment periods will be determined in line with the harvest and income generation period of our producers. Our goal is to contribute to our producers to continue their production without worrying about whether their electricity or water will be cut off due to their electricity and water debts,” he said.
Source: https://www.dunya.com/finans/haberler/ziraatten-borclu-ciftci-icin-yeni-kredi-haberi-470952
