Rabobank will not cancel debts of agricultural entrepreneurs. The House of Representatives recently adopted a motion stating that banks can help pay for the agricultural transition in order to get out of the nitrogen crisis. The bank does see a leading role for itself. A spokesperson for the bank has informed NU.nl about this.
According to Rabobank, canceling debts is not an option, because supervisors of the European Central Bank (ECB) are critical of this. Loans can only be forgiven if there are arrears of interest and principal and if companies have no collateral (such as land or machinery). This is not often the case with agricultural companies.
Focus on frontrunners
Rabobank says it wants to offer farmers perspective, a spokesperson said at the end of June Boerenbusiness† The bank remains open to new customers, but will focus on that on frontrunners in the agricultural sector.
The end of June were there sounds around that there would be a financing freeze for entrepreneurs in dairy, pig and poultry farming. Sources within the bank said at the time that this was not the case, but that various adjustments were being made. The nitrogen plans are the reason for this, because they limit the business prospects. The bank would not say what those adjustments are in concrete terms.
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