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Kyrgyzstan and Tajikistan: Expanding Finance in Rural Areas

Report N. 11 - August 2006









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    Bulgaria: Bank Lending to Small and Medium Sized Enterprises in Rural Areas; an Analysis of Supply and Demand
    Report N. 8 - January 2005
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    Bulgaria’s entry into the EU in 2007 will have a significant impact on the country’s small and medium sized enterprises (SMEs) operating in rural areas and the banking sector servicing them. EU standards and regulations related to specific sectors of industry (particularly food industry) coming in place in the next two years, as well as expected competition from the EU market, will change dramatically the scene in which rural SMEs operate. New investments are needed in order for this transition process to be successful. Commercial banks operating in rural areas have a vital role in realising this goal. This publication is part of report series published under the FAO Investment Centre/European Bank for Reconstruction and Development Cooperation Programme. The series presents sector reviews and studies undertaken in Central and Eastern Europe that cover development issues and innovative areas to increase investment in agriculture in the region. Bulgaria's entry into the European Union in 2007 will have a significant impact on the country's small and medium sized enterprises (SMEs) operating in rural areas. EBRD's Financial Institutions team, together with its Agribusiness team, has developed a Facility to mix EU grant and EBRD loans in favour of rural SMEs in EU accession countries. EBRD called upon FAO's expertise to review lending opportunities in Bulgaria's rural sector. This report was prepared to put forward recommendations to EBRD and local financial intermediarie s, on which clients the EU/EBRD Facility should focus and on the types of financial products required to serve these new clients. The analysis can be used by other local or international financial institutions interested in rural credit.
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    Romania: Bank Lending to Small and Medium Sized Enterprises in Rural areas; an Analysis of Supply and Demand
    Report N. 9 - January 2005
    2005
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    The economic situation in Romania has improved over the last years and starting in 2001 the growth rate averaged some 5 percent per year. Also the development of the financial sector has gathered pace and domestic and foreign direct investments, in view of the country’s accession to the EU in 2007, are rapidly picking up. These favourable trends, however, are far from being evenly distributed over the territory: Bucharest and a few other big towns in more favourable regions account for the bulk of the growth, while a large part of the country’s economic potential, representing small cities and rural communities, is not fully utilized. One of the reasons that financial resources allocated to rural areas remain under-utilized is the inadequacy of financial services to match the needs of local business, notwithstanding the number of specially designed financing programs in this respect. This publication is part of report series published under the FAO Investment Centre/European Bank f or Reconstruction and Development Cooperation Programme. The series presents sector reviews and studies undertaken in Central and Eastern Europe that cover development issues and innovative areas to increase investment in agriculture in the region. Romania's entry into the European Union in 2007 is expected to have a significant impact on the country's small and medium sized enterprises (SMEs) operating in rural areas. EBRD's Financial Institutions team, together with its Agribusiness team, h as developed a Facility to mix EU grant and EBRD loans in favour of rural SMEs in EU accession countries. EBRD called upon FAO's expertise to review lending opportunities in Romania's rural sector. This report was prepared to put forward recommendations to EBRD and local financial intermediaries, on which clients the EU/EBRD Facility should focus and on the types of financial products required to serve these new clients. The analysis can be used by other local or international financial institut ions interested in rural credit.
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    Term Financing in Agriculture: A Review of Relevant Experiences (Volume I - Main Report, Volume II - Case Studies, Executive Summary)
    Occasional Paper N. 14 - October 2003
    2003
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    Rural term and investment finance has received little attention by donors and the micro-finance industry over the past decade. This prompted FAO's Rural Finance Group and Investment Centre to jointly carry out a multi-country study on innovative approaches to financing the investments of small farmers. The research was co-funded by the World Bank. Due to the scarcity of literature on empirical examples or best practices, a number of case studies were conducted which illustrate how a variety of f inancial and non-financial institutions in different countries and regions have tackled the provision of term finance to agriculture. Volume I (Main Report) of the study illustrates the use of different financial instruments such as term loans, leasing, equity, deposits and matching grants for financing agricultural term investments. The focus is on innovative financing technologies, institutional settings and contractual arrangements to manage risks, reduce transaction costs and overcome collateral constraints. Particular attention is paid to the financing of long-term investments such as tree crops. In addition, some complementary measures and policy options for enhancing the environment for both the supply and effective demand for term finance are discussed. Volume II presents ten case studies from Bolivia, India, the Philippines, South Africa and Thailand. The Executive Summary is targeted to professional officers working in government institutions and internation al financing agencies. It summarizes the main lessons and discusses several issues and options for expanding the "financial frontier" of term finance in a sustainable way.

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