Theme: Executive Meeting from 24.06.2008
The annual credits guarantee fund for the achievement of SAPARD projects as well as for guaranteeing the projects accessed from the European Agricultural Fund for rural development is set up at the disposal of the Agriculture and Rural Development Ministry, from the European Fund of Agricultural Guarantee
On yesterday's meeting, the Government took a decision for the amendment of the Government Decision nr. 876/ 2005 for the approval of the methodological norms necessary for the enforcement of Law 218/ 2005 on the stimulation of the SAPARD funds' absorption by taking over the risk by the guarantee funds.
The normative act creates the legislative framework, according to the extension of the Law 231/ 2005 and Law 218/ 2005 coverage to the beneficiaries of the European agricultural fund for rural development, European Fishing Fund, European Fund of Agricultural Guarantee.
Thus, the guarantee fund includes the sums refunded by the guarantee funds after the refunding of credits to the beneficiaries of SAPARD funds, European Agricultural Fund for rural development, European Fund for fishing, European fund of agricultural guarantee, as well as from funds from the state budget awarded to the Ministry of Agriculture and Rural Development for this purpose.
The guarantees will be granted at the demand of credit institutions and without requesting for their value, other guarantees from those borrowing money, on the basis of the credits approved by them, according to their norms, and working procedures of the guarantee funds which will be part of the agreements concluded with the Agriculture and Rural Development Ministry.
The bonds of the guarantee funds resulted from guarantee contracts, executed by credit institutions, are under the regime of budgetary bond and are executed under the conditions of the in force legislation.
The money made available until the date of the approval of projects or actions about to be financed from the European agricultural fund for rural development, European Fishing Fund, or European Fund of agricultural guarantee, further to the refunding of the credits guaranteed by the guarantee funds for SAPARD projects, will be sent to the Ministry of Agriculture and Rural Development, given that the exposure is under the level stipulated by Law 218/ 2005, according to the conventions with the Ministry of Agriculture and Rural Development.
The sums made available after the date when these EU funds are approved, will remain at the disposal of the guarantee funds with a view to their use for granting guarantees to the beneficiaries of the European agricultural fund for rural development, European Fishing Fund, and the European Fund of agricultural guarantee.
The normative act creates the legislative framework, according to the extension of the Law 231/ 2005 and Law 218/ 2005 coverage to the beneficiaries of the European agricultural fund for rural development, European Fishing Fund, European Fund of Agricultural Guarantee.
Thus, the guarantee fund includes the sums refunded by the guarantee funds after the refunding of credits to the beneficiaries of SAPARD funds, European Agricultural Fund for rural development, European Fund for fishing, European fund of agricultural guarantee, as well as from funds from the state budget awarded to the Ministry of Agriculture and Rural Development for this purpose.
The guarantees will be granted at the demand of credit institutions and without requesting for their value, other guarantees from those borrowing money, on the basis of the credits approved by them, according to their norms, and working procedures of the guarantee funds which will be part of the agreements concluded with the Agriculture and Rural Development Ministry.
The bonds of the guarantee funds resulted from guarantee contracts, executed by credit institutions, are under the regime of budgetary bond and are executed under the conditions of the in force legislation.
The money made available until the date of the approval of projects or actions about to be financed from the European agricultural fund for rural development, European Fishing Fund, or European Fund of agricultural guarantee, further to the refunding of the credits guaranteed by the guarantee funds for SAPARD projects, will be sent to the Ministry of Agriculture and Rural Development, given that the exposure is under the level stipulated by Law 218/ 2005, according to the conventions with the Ministry of Agriculture and Rural Development.
The sums made available after the date when these EU funds are approved, will remain at the disposal of the guarantee funds with a view to their use for granting guarantees to the beneficiaries of the European agricultural fund for rural development, European Fishing Fund, and the European Fund of agricultural guarantee.
