The Minister of Agriculture and Rural Development, Rodolfo Zea Navarro, announced that through the ‘Special Credit Line for Strategic Sectors’ Food production activities will be financed by leveraging resources of 350,000 million pesos.
“Due to the increase in food prices, we have launched a series of actions, among which financing stands out, specifically the launch of a line of credit subsidized to encourage the planting of products from the Colombian countryside”, he added.
Likewise, he said that “in total there is a bag of $32,000 million in subsidy with this line, with which credits for $350,000 million will be leveraged”.
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The official stressed that “the line of credit has had good demand from producers. During 2022, 4,117 producers have already benefited, who have obtained $119,917 million to develop their productive projects. This means that the remaining $230,000 million in credit are available”.
“These $32,000 million from the ‘LEC for Strategic Sectors’ is support provided by the National Government to producers, especially small and medium, so that they do not have to pay high interest costs”, he mentioned.
It is worth mentioning that the resources ($32,000 million) they are prioritized for the primary production of the following crops and products: irrigated rice; poultry eggs; dry rice; banana; dad; papaya; papa diacol capiro; citrus; yucca; mango; plantain; tilapia reproduction and maintenance; sugar cane; reproduction and maintenance of native species.
As well as for panelera cane; trout reproduction and maintenance; cocoa; cachama reproduction and maintenance; pig support; shrimp reproduction and sustenance; bovine fattening support; pirarucú reproduction and maintenance; oil palm; support barley bovine fattening and big-headed onion.
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Minister Zea affirmed that according to the most recent loan placement report, of the $119,917 million that producers have already demanded with this LEC, 95% of the resources have been for small and medium-sized producers (44% small and 50% medium) and the remaining 6% for large.
“With the portfolio of Special Lines of Credit, which was made available from the second week of February 2022, 16,809 credits have already been placed for $349,066 millionof which 93% of the resources have been for small and medium producers (54% small, 39% medium, 7% large)”, he concluded.
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