Applications Accepted Through Eupmyeon Offices Until March 3
Facility and Operating Funds: 50 Million KRW for Individuals, 500 Million KRW for Corporations
Vinyl greenhouse complex along the Sinan-Saengbiryang national road in Sancheong-gun (Photo by Sancheong-gun)
[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Sancheong-gun, Gyeongnam announced on the 5th that it will allocate and operate 5.58 billion KRW for the 2021 Agricultural Development Fund Loan Project.
The Agricultural Development Fund is a loan support project that assists the management activities of local farmers and is implemented to improve management and strengthen agricultural competitiveness.
It supports operating funds needed for purchasing seeds, pesticides, fertilizers, agricultural machinery, distribution, sales, processing, and facility funds required for agricultural facility installations.
The support targets are farmers, agricultural corporations, and producer organizations who have had a residence and business place in Sancheong for more than one year.
The support conditions are an annual interest rate of 1%, with a 2-year grace period and 3-year equal installment repayment. The loan limit for farmers is up to 50 million KRW for both facility and operating funds.
For agricultural corporations and producer organizations, the limit is up to 500 million KRW for both facility and operating funds.
Support is provided to farms that have a management scale corresponding to the loan amount, have good financial credit status, and are recognized as capable of management improvement through fund support.
The eligible projects include ▲ project expenses to reduce production costs for rice-producing farmers, ▲ eco-friendly agriculture and eco-friendly livestock project expenses, ▲ production and distribution facility support to increase farmers' income, ▲ projects promoting production, consumption, and distribution of eco-friendly high-quality agricultural products and herbal medicine industries, and ▲ emergency measures and recovery project expenses for agricultural disasters.
A county official stated, “At this time when difficulties are being experienced due to the novel coronavirus infection (COVID-19), timely loan support is expected to reduce the management burden on farms, increase farming motivation, and contribute to income increase and competitiveness enhancement.”
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