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Contract Farming Program

Recognizing the dynamic and growth potential of the agricultural sector, NBG has prepared a special “Contract Farming” financing program that modernizes the entire production and trade cycle of buyers and suppliers of agricultural and livestock products.

The said program aims at financing farmers and livestock breeders to help cover part of the production cost of their products. The only condition is that the said producers must have concluded sale contracts (directly or through agricultural cooperatives) with trading and manufacturing businesses in Greece.

Payment of the funding is carried out under particularly favorable terms through the special AGROKARTA DEBIT MASTERCARD, the use of which is allowed exclusively with the extensive network of NBG-partnered companies that provide agricultural supplies and fuel. In addition, producers may use the funds in order to pay the farm workers through the issue of a labor stamp (ergosimo), as well as other expenses such as farm electricity bills, bills for water supply to cultivated areas etc. Payment of the funding is carried out automatically by the trading/manufacturing business, by returning the value of the purchased products to the producer’s deposit account.

By joining the Contract Farming program, producers cover the production cost of their produce, thereby better securing the necessary liquidity. Accordingly, the farmer benefits by being able to reduce the cost of purchase of the goods needed for their production and to increase their output and profitability, thus enhancing the viability of their businesses.

For further information, see Details.

Beneficiaries:
Farmers and livestock breeders recommended by an NBG-partnered trading/manufacturing business, with whom they have entered into an agreement for the sale of their products (with or without the mediation of an agricultural cooperative).

Purpose:
To cover part of the production cost for the products (such as the purchase of agricultural supplies, animal feed, fuel, coverage of electricity and water expenses and financing of labor costs).

Securities:
Establishment of a pledge over the producer’s claim arising under the agreement regarding the purchase and sale of his products.

Term:
Up to 12 months, depending on the product’s seasonality.

Disbursement:
The funds are disbursed through the special debit card “AGROKARTA DEBIT MASTERCARD”, the use of which is allowed:

  • at specific POS terminals installed with traders in agricultural supplies, animal feed, fuel etc.
        who have joined the Contract Farming program,
  • for the purpose of withdrawing cash from NBG ATMs to cover labor costs at a predetermined time
        period (e.g. at harvest time).

​Repayment:
The funds are repaid through payments carried out by the trading/manufacturing business in consideration of the value of the products purchased, by crediting the producer’s deposit account held with NBG.

​To join the Contract Farming program the producer needs to provide a recommendation from an NBG-partnered agricultural or livestock breeding product trading/manufacturing business.


Producers who are included in the Contract Farming program will be contacted by the nearest branch in order to present the necessary documentation.

  • ​Free of charge account statements will be sent to you on a quarterly basis.
  • For tax purposes, a certificate of interest charged will be issued on an annual basis.