Šiaulių Bankas is a leader in provision of credits to the farmers
Over the first half a year Šiaulių Bankas has maintained a leading position in provision of credits with the guarantees of the Agricultural Credit Guarantee Fund (ACGF) issued to the agricultural sector.
Šiaulių Bankas has issued EUR 4.38 million of credits to the farmers, rural businessmen and processors , as a matter of fact, the amount of EUR 3.2 million of these credits was supported by the Fund's guarantees. It accounts for nearly one- third of the total amount of the provided guarantees.
The ACGF guarantees are usually used by the farmers. This year, the largest number of guarantees has been provided for the credit issued to finance the crop production and alternative agriculture activities. The most popular implemented projects were related to the forestry, logging services, rural tourism and alternative energy.
The ACGF has provided 93 guarantees amounting to EUR 10.7 million in total for the credits of EUR 15.3 million issued by the credit institutions operating in the country.
According to the data provided by the ACGF the amount of provided guarantees increased by 52 per cent in comparison to the first half of last year. This has been caused by an increase in borrowing amounts as an average credit this year comprised EUR 165 thousand while in the first half of last year it amounted to EUR 135 thousand.
More information on the guarantees provided by the ACGF is available here