Milk, two and a half year debt moratorium for farmers – Il Sole 24 Ore

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This article was published March 16, 2016 at 17:14.

Two and a half years to enable milk producers to suspend their debts to banks. So loosen the grip of the crisis prevailing in the sector. This is what provides for the agreement signed today by the Minister of Agriculture, Maurizio Martina, and the president of ABI, Antonio Patuelli, with a memorandum of understanding for the revival of the dairy sector. The agreement will be formalized with the suspension of payments of the loans obtained from livestock farms, through the measures of the Fund of the Ministry milk for the restructuring of the debts of the farmers, and the Agreement for Credit 2015. The Protocol also provides that member banks may offer more favorable terms than those provided by the cartel Mipaaf-Abi. Businesses that do not have access to the Fund milk, also belonging to other sectors of the food industry, they can still get the suspension of payment of the principal amount of loan installments, as provided by the Agreement for Credit 2015, or better conditions which are being finalized by the Ministry with individual banks.

“We need new answers to one of the strongest structural crisis in the EU dairy industry – said Minister Martina – We work for months to support of our farmers and today’s agreement for the mortgage moratorium for two and a half years is a concrete step forward. Action strengthening the operation of our Fund milk from 50 million euro and goes to affect one of the most delicate fronts, such as banking, trying to help companies milk at this stage. Now we work to ensure that the individual banks can offer even better conditions, to meet the needs of a strategic sector. “
For the president of ABI, Patuelli, it is” one of the joint initiatives to promote recovery in the new context competitive. The agreement also aims to promote a greater knowledge of the solutions described and indicate the possibility that the benefits which they contain, can be combined to achieve the maximum benefit for the companies. “

The protocol, recalled Patuelli, also provides for “the establishment with the ministry of a specific technical committee to define the modalities of the current subsidiary guarantee ISMEA transformation into one of the consistent credit risk mitigation instrument with Basel regulation. The same table will draw up proposals on new guarantee instruments to facilitate access to credit for agricultural businesses.

For the president of Coldiretti Roberto Moncalvo, it is” an important response to our stresses to immediately give a shot in the arm and do close the farms that for too long have to work with sales prices below the cost of production. “

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