The Agrár Széchenyi Card MAX+ is available with an interest rate of five percent

By: STA Date: 2023. 10. 03. 09:30

The recently launched Agrár Széchenyi Kártya MAX+ overdraft facility is a huge help for Hungarian agriculture in bridging the market difficulties caused by the Ukrainian grain crisis, announced Zsolt Feldman, the State Secretary responsible for agriculture and rural development of the Ministry of Agriculture.

The state secretary reminded that the new scheme created thanks to the cooperation of the Ministry of Economic Development, the Ministry of Agriculture and KAVOSZ Zrt. is an effective help for farmers in ensuring an affordable level of working capital financing. Currently, the loan product already available at the KAVOSZ registration offices has an actual interest charge of only 5%/year.

The increased interest subsidy can be used by agricultural enterprises up to a maximum amount of HUF 100 million

Within the framework of the scheme, it is possible to conclude loan agreements with a maximum term of 3 years until June 29, 2024. The increased interest subsidy is also available to those who already have a normal Agrár Széchenyi Card Current Account, as everyone now needs additional help, added Zsolt Feldman. Máté Lóga, the state secretary responsible for economic development and national financial services, emphasized that “in the current difficult economic situation, hit by sanctions and the resulting high interest rate environment, the new Agrár Széchenyi Kártya MAX+ is an extremely significant help for the actors of the sector. The aim of the government is to contribute to the protection of jobs and the increase of the competitiveness of agricultural enterprises with the subsidized loan. In order for the government to restore economic growth in 2024, well-performing, investing and developing agricultural enterprises are also needed, he added.