A total of 1 118 agricultural producers will receive BGN 10 million in financial loans to raise cows, buffalo cows, sheep and she-goats. The funding will be paid to stockbreeders’ bank accounts by December 20, 2012. Up till now, more than 200 candidates have pocketed over BGN 2 million, with a further almost BGN 3 million due to be paid out in the short term.
Applications were accepted from November 5 until November 19, when the BGN 10 million cap under the scheme was reached.
The financing is provided to physical entities, sole proprietors and legal entities with no less than the following number of stock as at the application date: 10 cows and/or 5 buffalo cows, and/or 50 ewes, and/or 50 she-goats.
Farmers are paid up to BGN 210 per cow and buffalo cow and up to BGN 35 per ewe and she-goat. The annual interest rate of the loan is set at 6%. The farmers are required to maintain at least 70% of the number of animals for which they received financing until April 30, 2013. The loans are to be repaid by November 29, 2013.