LAW No. 20 of 8 April 1996 concerning certain measures necessary for carrying out the campaign in the spring of 1996, as a result of the ISSUING of emergency PARLIAMENT Published in MONITORUL OFICIAL NR. 70 of 8 April 1996 the Romanian Parliament adopts this law.
Article 1 For the financing of agricultural expenditure incurred in the spring agricultural campaign and harvested works since 1996, as well as to ensure necessary stocks of livestock feed until the new harvest, National Bank of Romania will provide credit lines of 1,100 billion dollars within 10 days from the publication of this law in the Official Gazette of Romania.
The level of interest rate charged by the National Bank of Romania and the commercial banks will be higher by up to 5% per year over the inflation index. Interest will be subsidized from the appropriations provided for in the State budget for 1997, so that the beneficiaries of credits not bear interest of more than 15% per year.
Article 2 credits will be granted with terms staggered repayment depending on capitalization and the equivalent value of agricultural products, but not later than 31 December 1996. Maximum interest rate of 15% will be charge by the commercial banks and the National Bank of Romania as the recovery of the products according to their use of graphics.
Interest to the lines of credits issued by the National Bank of Romania commercial banks lending to agriculture will be paid once the receipt of loans and the interest by commercial banks.
Article 3 Credits. 1 shall be granted to agricultural producers, individuals or legal entities, including companies processing agricultural products with farm land in service, institutes and agricultural research stations and horticulture and companies providing services in agriculture, regardless of their form of ownership and use of land for agriculture, for: repair of tractors, agricultural machinery, machinery for harvesting and transport, performing agricultural plowing , land preparation, planting and maintenance, purchase of seeds, chemical fertilizers, herbicides, fungicides, fuels and fuels, fertilization and plant health treatments, cuts in the groves of trees and vines, hops, seasonal works in vegetable growing and protected areas from listening, and for forage crops and replenishing stocks of fodder needed livestock sector until the new harvest.
Article 4 farmers, individuals or businesses, and companies that provide services in agriculture that have debts as a result of damage caused by natural disasters, outstanding loans and interest unpaid for past years, can engage.
The provisions of paragraphs 1 and 2. 1 shall also apply to companies from the processing of sugar-beet, flax, cinepei, vegetables and fruit from field and greenhouse.
Outstanding loans and unpaid interest at the date of 31 March 1996 of recipients under this law are reesaloneaza la plata during the years 1997 and 1998. Accordingly, National Bank of Romania will reesalona corresponding lines of credits granted to commercial banks, at the level of the reference interest rate.
Article 5 Appropriations committed under this law can be guaranteed, taking into account 6 the counter value and products referred to in the program this year.
Article 6 the Ministry of agriculture and food together with commercial banks and the National Bank of Romania will develop within 3 days from the date of its publication in the Official Gazette of the present law, the detailed rules of application.
This law was adopted by the Chamber of deputies at its meeting on 2 April 1996, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
PRESIDENT of the CHAMBER of DEPUTIES ADRIAN NASTASE this law was adopted by the Senate at its meeting on 2 April 1996, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. SCOTT-SENATE PRESIDENT ION — — — — — — — — — — — — — — — — — — —