Agricover Credit IFN, the lending division of Agricover Holding, has a 15% market share on the agricultural sector lending segment.
EBRD representatives said the loan will allow the company to support the financing needs of farmers in Romania and to boost both its client portfolio and market share.
In 2017, the EBRD, one of the largest institutional investors in Romania, acquired 13% of the share capital of Agricover Holding SA.
The EBRD has invested nearly EUR8 billion in Romania to date, in over 400 projects. In 2017 alone, the bank invested over half a billion euros in Romania. Of this financing, 93% was provided to the country’s private sector.
Agricover Holding S.A., held by Iranian businessman Jabbar Kanani, is one of the biggest distributors of agricultural raw materials and grain traders on the Romanian market. Agricover Holding, which reunites the Agri-Business and Agri-Finance divisions, has over 850 employees and over 4,500 farmer clients across Romania.