Eurobank implements a new programme “Business Banking Rural Sector”, which comprises a set of targeted actions and products for farmers and agribusiness.
In particular, the program includes: the “Agricultural Support Account” at a preferential interest rate of 1%, which relates to the processing of daily transactions and crediting agricultural aid. It also includes the ‘Card Farmer “rate of 0% for the period up to September 30, 2017 plus a charge of 0.12%.
Thereafter and until the expiry of a financing agreement, the interest rate will stand at 4.8% plus 0.12% contribution of Law. 128/1975. By Farmer Card -the debit card issued by Eurobank in cooperation with the Ministry of Rural Development & Foodstuffs beneficiaries can “prepayment” 80% of basic aid to cover production costs associated with the farm.
It also includes farm equipment financing programs through which it is possible to finance the purchase of professional equipment in cooperation with the largest companies in the field.
Eurobank’s aim through the integrated strategy for farmers and rural businesses is the fundamental support of the primary sector, which aims, as stated in the communication, to improve competitiveness and providing support to young farmers, strengthening entrepreneurship and successful partnerships, aimed at creating economies of scale in the various stages of production and to strengthen activities relating to the promotion of innovation and research in agri -economic sector.
The Brexit process could have an impact on Greece’s tourism industry, Eurobank said in a recent report. On March 29, UK Prime Minister Theresa May triggered Article 50 of the Lisbon Treaty and officially launched procedures for Britain’s exit from the EU.
Eurobank underlined that the travel ability of Britons may be affected by a decrease of income, combined with the increase of inflation and a possible downgrade of the pound against the euro.
Furthermore, Eurobank estimates that procedures and the cost of traveling abroad may change for the British, for example in case a visa is required for traveling abroad. Eurobank’s report underlines that the UK market remains a “main source” of tourists for Greece.
The shipping sector may also be affected due to a drop in demand for shipping services, especially if a severe disorder occurs on international trade.
Eurobank’s report also focuses on commerce and exports, noting that a hypothetical decrease of Greece’s exports to the EU countries by 1 percent, would result in a decrease of Greece’s GDP by 0.15 percent (and vice versa). A deterioration in the forecast of other EU economies would negatively affect Greece’s commercial flows.
Greece could also lose EU funds, in case the European Union’s budget is decreased. According to Eurobank, funds allocated through the EU Common Agricultural Policy and other European structural programs to Greece are estimated at a total of 35 billion euros for the 2014-2020 period. This figure may decrease due to the Brexit.
