In order to maintain this dynamic and to continue the uninterrupted support of farmers and manufacturing companies, the Minister of Rural Development and Food, Lefteris Avgenakis and the competent Deputy Minister, Dionysis Stamenitis, in collaboration with the Secretary General of Union Resources and Infrastructure, Dimitris Papagiannidis, ensured additional resources of €10 million to strengthen the Fund.
The beneficiaries of the Agricultural Entrepreneurship Small Loans Fund (TaMiDAE) are professional farmers, legal entities whose main activity is agriculture, young farmers included in action 6.1, recognized collective schemes of farmers and small and medium-sized manufacturing enterprises with an agricultural end product.
The amount of the loan ranges from €3,000 to €25,000 and the repayment period is from 2 to 5 years. In each loan, 50% is granted by PAA through the Fund and is interest-free and the remaining 50% from the bank. In addition, the PAA through the Fund provides an interest rate subsidy for the remaining half of the bank's loan for the first two years.
The result of the above is that the beneficiaries have zero interest for the first two years of repayment of their loan and for the rest of the period they only have interest for 50% of their total loan, i.e. for that part of it in which the bank participates.
The total budget of the Small Agricultural Entrepreneurship Loan Fund (TaMiDAE) in the next period will rise to €31.5 million from €21.5 million today.
