The Implementation

CFP was initially developed by an inter-divisional team, under the coordination of the Agricultural Sector Division of the bank. After the market analysis (Q4/2012) and the pilot implementation (Q1/2013), the program was launched in April 2013. During the first year, apart from demonstration to enterprises and agricultural producers, the most significant action was related to the set of a permanent specialized team that would be responsible for the project. The choice of staff related to certain requirements, which included the following:

  • • Educational background in Agricultural Economics or Agronomy
  • • Know-how regarding agricultural credit and corporate credit
  • • Knowledge of the operating institutional framework of productive units
  • • Communication skills
  • • Organizational ability to support and coordinate enterprises, farmers and other parties.

At the beginning of 2014, Piraeus Bank set some strategic objectives that directed its expansion. Among these goals were the efforts to

  • • Expand the product range covered by CFP, so that every farmer who wishes to join will be able to do so.
  • • Support of extrovert companies and cooperatives.
  • • Extend cooperation with companies that already have considerable experience in contract farming. Such firms were traditionally operated in this way either due to institutional conditions or because they had already chosen commercial practice.
  • • Support of environmental protection.
  • • The support of producers’ organizations and enterprises in the country’s border regions to contribute to the balanced and sustainable development of the Greek rural economy.
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