The MAGRAMA stipulates the terms and conditions for facilitating the access to financing for farming estates through SAECA
25 May 2016 |
- The Ministry for Agriculture, Food and the Environment will grant aids for up to 100% of the cost of the guarantees granted by SAECA to the new loans subscribed
The Official Gazette of the Spanish State (BOE) has published the Order of the Ministry for Agriculture, Food, and the Environment (MAGRAMA) which sets up the basis regulating a new line of state funded support, aimed at facilitating to the holders of farming estates access to loans through the guarantee provided by SAECA.
Farmers and stockbreeders will be able to request loans guaranteed by SAECA, of up to 40,000 € per beneficiary and with a 5-year term, with the possibility of a 1-year grace period.
As a novelty, this line will offer to the milk, fruit and vegetable growing, pork-breeding, and rabbit-breeding industries the possibility of asking for these grants, thus contributing to improving the financial status of the farming estates belonging to industries which are going through special market difficulties.
In this case, the amount of the loans could reach up to 80,000 €, which would go to redeeming or paying in advance loans currently in force, with a 10-year period and the possibility, also of having a 1-year grace period.
In both cases the MAGRAMA envisages giving aid for the management fee for the SAECA’s guarantee for a period of up to 5 years, as well as for the study fee to those beneficiaries who have in force a farming or stockbreeding insurance.
The Ministry contemplates proceeding immediately the call for these grants, and the term for requesting them will begin on the day of its publication on the BOE and will end on September 20th 2016.
SAECA and Grupo SEPI
SAECA belongs to Grupo SEPI, a corporate holding which includes a total of 16 state-owned companies in which it has direct, majority shareholding participations, with a workforce of around 73,000 professionals in 2014; the Spanish state-owned television and radio corporation, Corporación Radiotelevisión Española, which is attached to SEPI, and one public foundation. Equally, SEPI has direct minority shareholdings in a further ten companies, and indirect shareholdings in more than one hundred companies.