About ELANA Agrocredit
ELANA Agrocredit is a financial leasing company offering financial leasing for purchases of agricultural land to agricultural producers. This is the first local company specialized in this area. At a later stage the company will offer loans for other investment projects such as irrigation systems development, equipment purchases, etc.
ELANA Agrocredit offers to the farmers the opportunity to buy the land they work on at the current price and pay it off throughout 10 years while being able to plan comprehensively the investment in the improvement of the land fertility and its productivity.
ELANA Agrocredit is registered with №BGR 00299 at the Bulgarian National Bank register for a financial institution in accrodance to the Credit Institutions Act.
Executuve Director of ELANA Agrocredit
Gergana Kostadinova is the Executive Director of ELANA Agrocredit since January 2014.
Mrs. Kostadinova has a solid professional experience in finance and investment. Currently, she also holds the position of CFO of ELANA Financial Holding.
Gergana Kostadinova has developed the financial policy of ELANA Agrocredit since the start of the company and has been involved in elaboration of the financial model of its investment product. She was elected to be the Executive Director at the General Assembly of Shareholders in January 2014, taking over from Kamen Kolchev who established the company in the first starting years if existence.
She joined ELANA team in 2007 as an accountant and consequently was promoted to manage the Financial Department of ELANA Financial Holding. Before joining ELANA group she used to work as accountant at private companies. She graduated Finance at the University of National and World Economics-Sofia.
Executive Director Agromanagement OOD
Georgi Georgiev has long years of experience in the sector of agricultural land. In 2006to 2009 he was the Investor Relations Director of ELANA Agricultural Land Opportunity Fund REIT, as well as chief legal expert for the managing company of the fund – ELANA Property Management. He actively participated in developing a nationwide distribution network for farm land deals.
Georgi Georgiev is the first Chairman of the Board of the Bulgarian Association of Farmland Owners (uniting owners of over 250 000 ha arable farmland. Before joining ELANA team, Georgiev used to work as legal expert for regional public administration and corporate organizations. He graduated Law at the Sofia University.
ELANA Agrocredit AD Structure
ELANA Agricultural Land Opportunity Fund REIT – a successful showcase of a forward-thinking investment product in Bulgaria
- In 2005 ELANA team introduced one of its most innovative investment products – the first real estate investment trust in Bulgaria that focused on investing in agricultural land: ELANA Agricultural Land Opportunity Fund – EALOF.
- In 2005 – 2009 ELANA Property Management was selected to be the fund managing company to EALOF, which is listed on BSE-Sofia. Subsequently, the company was acquired by the fund already with a new name – ELARG Agricultural Land Opportunity Fund.
- A crucial contribution of ELANA Property Management while developing EALOF was its major role as an engine for a transparent and viable for investment agricultural land market in Bulgaria.
ELANA team contribution to the development of the farmland market via ELANA Agricultural Land Opportunity Fund
- Developed a nationwide network of over 70 regional agents specialized in land deals;
- Stirred and maintained relations with over 2500 farmers;
- Managed to purchase 30 000 ha at the average price of BGN 2190 per ha – ELANA Agricultural Land Opportunity Fund maintained the position of the largest farmland owner following the state;
- Organized and completed 40 000 land purchase deals;
- Managed to lease 23 000 ha farmland to agricultural producers;
- The shareholders of the fund have gained a return of 150% for the period of fund existence;
- The fund has also stirred the establishment of the Bulgarian Association of the Farmland Owners and chaired the first mandate – the organization works actively with governmental institutions and NGOs to improve the conditions for the development of modern agriculture in the country.
ELANA Property Management established the tradition of annual conferences on the agricultural land market in partnership with Dnevnik Business Daily.