Jeonnam Province "Apply for Eco-friendly Agriculture Promotion Fund Loans"

[Muan=Asia Economy Honam Reporting Headquarters, Reporter Yoon Jamin] Jeonnam Province is launching applications for loans from the Eco-friendly Agriculture Promotion Fund next year to foster eco-friendly agriculture and strengthen the competitiveness of farming households.

According to Jeonnam Province on the 2nd, eligible applicants for the eco-friendly agriculture promotion fund loans include eco-friendly agricultural corporations and producers who have resided in Jeonnam for more than one year, producer organizations, eco-friendly agricultural material manufacturers, and eco-friendly agricultural product distribution companies.

The support projects are divided into operating funds and facility funds. Operating funds are provided for purposes such as raw material purchases, production costs for eco-friendly agricultural materials, packaging design development expenses, and rental fees for sales venues. Facility funds support expenses necessary for the construction, expansion, or remodeling of facilities related to the production, processing, distribution, and sales of eco-friendly agricultural products and the production facilities of eco-friendly agricultural materials.

The loan limits are up to 100 million KRW for individuals, up to 500 million KRW for corporations, and up to 1 billion KRW for franchise stores of eco-friendly agricultural product distribution companies.

Repayment conditions are a 2-year grace period followed by 3 years of equal installments for operating funds, and a 2-year grace period followed by 6 years of equal installments for facility funds, with an annual interest rate of 1% applied.

Farming households and organizations wishing to apply for loans can submit their applications at their local town or township community centers by the 29th.

After screening by the Eco-friendly Agriculture Promotion Committee, recipients will be finalized by the end of February next year, and loans will be provided through financial institutions starting in March.

Lee Jeonghee, Director of the Eco-friendly Agriculture Division of Jeonnam Province, said, “The Eco-friendly Agriculture Promotion Fund is a very useful fund uniquely provided by Jeonnam Province nationwide to support projects needed by eco-friendly farmers. We will ensure that eco-friendly farms in the province can practice eco-friendly agriculture, provide timely support, and gradually expand the projects annually.”

This content was produced with the assistance of AI translation services.