Development Bank Begins Financing Agricultural Improvement

(Patria) - The Development Bank of FBiH has in the past been criticized for having a conservative and restrictive approach in its operations, for not fulfilling its proclaimed goals with its activities and placements, for needing to undertake activities to lower interest rates, simplify procedures for receiving and processing documentation and approving loans, as well as for transparency in the Bank's work, etc. Therefore, we want to express our satisfaction that the new acting Management of the Bank has undertaken activities to resolve and stabilize the situation in the Development Bank of the Federation of BiH, it was announced from the Association of Farmers.

They state that the new acting Management of the Bank has undertaken activities to improve communication with businessmen, as well as with farmers, where solutions have been found regarding their issues related to financing/obtaining more favorable loan funds, with the aim of improving the development of the agricultural and food industry.
The result of these activities is the improvement of the banking services and products offered by the Development Bank of the Federation of BiH. 
At the proposal of the acting Management of the Bank, the Supervisory Board made a Decision to adjust the existing direct line for financing agricultural production by reducing the nominal interest rate to 2.5% annually, and extending the repayment period to a maximum of 15 years. 
Also, conditions have been created for the realization of cooperation between the Development Bank of FBiH and the Federal Ministry of Agriculture, Water Management and Forestry. The Bank's Supervisory Board, at the proposal of the acting Management of the Bank, made a Decision to establish a new credit line for financing agricultural production with grant funds from the Federal Ministry of Agriculture, Water Management and Forestry. Further activities have been undertaken for the implementation of this Decision, and after the New Year, we expect the signing of a Protocol.
Exporters have not been forgotten either, because without exports there is no development of FBiH. Thus, new special credit lines for exporters have already become operational, and existing credit lines have been adjusted.
Financing the improvement of agricultural production and rural development is one of the goals of the Development Bank defined by the Development Strategy of the Federation, which the Bank has finally begun to implement.
We emphasize that the Development Bank must position itself as the bank of all businessmen with whom partnership agreements should be created. Every part of the economy has its proposals for improvement, so work should be done on transparent communication between the Development Bank of FBiH and business entities, which should result in the best solutions and a quality policy and strategy for the Development Bank of FBiH. 
In this regard, we support its activities aimed at relieving businessmen who are increasingly burdened by taxes, by providing them with easier and more favorable access to credit funds in order to create a healthier and better business environment throughout Bosnia and Herzegovina.