Access to financing remains one of the main constraints for Romanian farms in 2026, against the backdrop of a still high cost of capital and a moderate risk appetite on the part of banks. According to data from the National Bank of Romania (NBR), in 2024–2025 the average interest rate on loans granted to agriculture ranged between 8% and 9.5%, above the European Union average for the agricultural sector, estimated by the European Central Bank at approximately 6–7%.

The financing structure is dominated by short-term loans intended for working capital. NBR data show that more than 60% of banking exposure to agriculture consists of loans with maturities of less than one year, which limits farms’ ability to invest in modernization, technology, and value-added growth. Investment loans remain dependent on public guarantees and high levels of co-financing.

Financial instruments supported through the European Investment Fund and national guarantee programs have partially reduced banks’ risk, but have not significantly altered the final cost of financing for farmers. In many cases, the effective interest rate remains close to, or even above, the average return of crop farms, estimated by Eurostat at below 10% in normal agricultural years.

For 2026, the core issue is not the availability of credit, but its economic sustainability. Investments made on the basis of expensive capital in a sector with volatile margins and high climate risk amplify financial vulnerability. Access to financing thus becomes selective, favoring farms with a solid financial structure and rigorous cost control, while fragile holdings remain dependent on survival credit.

(Photo: Freepik)