Jinju-si Provides 3.2 Billion KRW Loan Support from Agricultural Fund in Second Half of 2021

Apply for Farmland Location Eup/Myeon/Dong by the 30th

Jinju City Hall Exterior View

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province, will provide a loan support of 3.2 billion KRW from the Jinju Agricultural Fund in the second half of 2021 to strengthen the competitiveness of farmers facing difficulties due to changes in domestic and international agricultural environments and to support stable farming operations.

The Jinju Agricultural Fund offers operating funds and facility funds necessary for agricultural management to farmers, agricultural-related corporations, and producer organizations. Operating funds can be loaned up to 100 million KRW, and facility funds up to 200 million KRW.

The repayment period is 1 year grace period plus 3 years equal installment repayment for operating funds, and 2 years grace period plus 3 years equal installment repayment for facility funds, with an annual interest rate of 1.0%.

The purpose of operating funds includes expenses for purchasing materials such as seeds (seedlings), pesticides, fertilizers, raw materials, and feed; wide-area power costs; purchase and usage fees for communication devices; rental fees for facilities and equipment; transportation costs; and funds required for distribution, sales, and processing. Facility funds are intended for the expansion and improvement of equipment and materials needed for horticultural industries and livestock facilities.

However, among operating funds, consumable expenses not directly related to project implementation such as personal equipment, event-related expenses, advanced site visits, service-related expenses, as well as funds for purchasing real estate such as land and buildings, labor costs, and household funds are excluded from support.

Farmers wishing to apply for the agricultural fund should visit the eup/myeon office or dong administrative welfare center in the location of their farmland by the 30th and submit a certificate of agricultural management registration, application form, and business plan.

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