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Sunday 17.12.2017 | Name days: Teiksma, Hilda

Local farmers to receive millions of euros for development

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The farmers’ group Antiņi, which consists of three peasant’s households, will invest about a million euro for development.

The money will be used to purchase new and more powerful agricultural machinery, in order to avoid idle time due to technological reasons that is connected with repair works. Bank and EU funds will be attracted in order to purchase the machinery. For the implementation of the project, the farmer’s group Antiņi has received SEB Bank financing in amount of 1.081 million euros. «Realizing this project will enable the household to purchase new and more powerful machinery: 4 combines, two tractors, two plows, field rollers, cultivators, seeders, sprayers and a fertilizer dispenser, that would correspond to modern agricultural technology requirements. The technique that we have been using so far was purchased in 2004 and it has served for six seasons already. As a result frequent repairs are necessary, which result in significant downtime. Time factor is very important in our sector, because any delay means loss. Therefore, SEB Bank and EU funding is just as encouraging to our farms as good technique and favorable weather conditions,» explained the owner of z/s Rūķīši Anrijs Slaukstins (Anrijs Šļaukstiņš).

BNN interviewed financial experts indicate that crediting volumes in Latvia have begun to rise again. It testifies for the positive trends in the economy – a growing number of companies that can afford to invest money in development and get credits. «Banks had never stopped crediting. They have money enough. The thing is that there is a lack of good projects and solvent enterprises that could afford loans,» the President of Association of Latvian Commercial Banks Teodors Tverijons points at the tendencies. Overall Latvian banks in July issued 3.8 million lats in loans for agriculture. He also points out that currently the bank’s average monthly issue of loans comprises 100 million lats, while in the «fat years», the average was – 300 million lats.

The households of the farmer’s group have 18 years experience in agriculture. The group includes three crop-breeding farms – z/s Jaunmārkundas, z/s Ūtkas, z/s Rūķīši, which all are in the structure of LPKS Bauņi. The farms engage in crop cultivation of 2700 ha large areas.


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