OREANDA-NEWS. December 30, 2010. Ukio bankas has granted 8 times more credits to agricultural entities within January –November of this year than in the same period last year. Amount of new agreements concluded with farmers within the first eleven months of this year amounted to LTL 24.2 million and approximately five times exceeded the amount of the agreements concluded in the same period of a year 2009.

“This year agriculturalists and farmers were more active in borrowing than the last year. We notice that when the demand for farmers’ production grows and organic farms become more popular, farmers turn to us more and more often. Most often credits are requested for development and modernization of farms, acquisition of new operational technique”, - said Mindaugas Pasvenskas, Head of Ukio bankas Credit Service Unit.

Farmers from Raseiniai, Panevezys, Klaipeda and Siauliai regions were in the lead according to the amounts of new agreements. The biggest part of credits for agricultural entities portfolio on 30th November was taken by Raseiniai (28 percent), Kedainiai (16 percent), Panevezys, Silute and Klaipeda (12-14 percent respectively) regions.

“It has been many years since we cooperate with farmers, agricultural technique sellers, thus we have penetrated their needs. Furthermore, we take part in the objective loan programs therefore we may propose credits to farmers in more favorable terms than in the usual market, - admitted M. Pasvenskas. - Agricultural companies were among the most successful surviving this hardship period so we see this field as perspective in the future as well”.

Ukio bankas has won a tender for objective loans in 2009 and 2010 for finance engineering measures “Modernization of Agricultural Holdings - support by credits” and “Processing of Agricultural Products and Increasing of Added Value - support by credits” financing. Credits are granted through Ukio bankas cooperation with the Credit Fund set up by the Lithuanian Ministry of Agriculture.