Imsil-gun Promotes 'Agricultural Management Loan Interest Subsidy Support Project'

Published 13 Jul.2022 12:55(KST)

[Imsil=Asia Economy Honam Reporting Headquarters, Reporter Park Nosik] Imsil-gun, Jeonbuk announced on the 13th that it will promote the ‘Agricultural Management Loan Interest Subsidy Support Project’ to stabilize the agricultural management of farms.

The Agricultural Management Loan Interest Subsidy Support Project, implemented for the first time this year, is a project that supports the interest on loans borrowed from financial institutions (NH Nonghyup Bank) (local government agreement loans) with county funds to create a self-reliant foundation for local farmers and ensure stable management.

In the first half of the year, 13 recipients were selected for this project, and interest subsidies were paid on loans amounting to about 360 million KRW, and additional recipients are being recruited in the second half of the year.

Support for interest subsidies on agricultural management loans is provided by the county selecting recipients when farmers who wish to apply for local government agreement loans apply at the eup/myeon office.

The selected recipients have their loans finalized after examination by the lending financial institution, and the county supports the interest accordingly.

Loans can be up to 30 million KRW for production income projects in agriculture, fisheries, and livestock sectors, and up to 50 million KRW for infrastructure establishment.

The county supports interest subsidies up to a maximum of 2.5% of the interest incurred on the loan.

Applicants must be farmers or fishers actually residing in Imsil-gun (registered address) and engaged in the loan application field, and must visit the eup/myeon office to apply by the 22nd.

County Governor Shim Min said, “Through this project, I hope farmers can reduce their interest burden and expand agricultural investment, becoming a stepping stone to increasing farm income,” and added, “We will continue to expand support to help strengthen agricultural competitiveness.”