FOFIM Facilitates Loans for Mining Cooperatives in Bolivia, Boosting Economic Growth

The president of the board of directors of the Cooperativa 10 de Febrero, Fidel Copa Veramendi, thanked the Government for the benefits that obtaining these loans brings.

La Paz, July 13, 2023 (AEP-Digital).- Through a new regulation, the Financing Fund for Mining – FOFIM facilitates the procedures for obtaining loans to the Mining Cooperatives of Bolivia, as stated by the Executive Director General, Rolando Yujra Segales.

“The entire procedure was done in record time, the request from the Cooperativa 10 de Febrero San José RL began in May of this year and the disbursement will be made next week, this means that the FOFIM is fulfilling the objective with which was created,” Yujra said.

In turn, the president of the board of directors of the Cooperativa 10 de Febrero, Fidel Copa Veramendi, thanked the Government for the benefits that obtaining these loans brings, and the FOFIM, for the promptness of the procedures and the technical assistance provided. .

“After more than ten years of waiting, this loan could be obtained, the previous administrations asked us for many requirements, they also left us to our own devices, for this reason we thank FOFIM because its technical staff was step by step in the drafting of the project”, Copa indicated.

Along the same lines, the president of the “El Progreso” Mining Cooperative, Riberth Arana, in time to thank the Government for this type of financing, with which an investment will be made to the mining cooperative that will allow mechanization and achieve greater production, thus This way benefits not only the cooperative but also the production chain.

The Directors at FOFIM representing FENCOMIN RL, Emilio Orellana and Sergio Janco, agreed to highlight that these loans contribute to economic reactivation, especially because the State has a greater presence in the mining cooperatives and works together in harmony with Mother Earth. .

Regarding the loan for the 10 de Febrero Mining Cooperative, the amount amounts to Bs.1,200,000.00 (one million Two Hundred Thousand/100 bolivianos) with the Project “Expansion of Main Gallery Section (Level-30) for extraction mechanized.

The loan from the “El Progreso” Mining Cooperative is Bs.800,00.00 (Eight Hundred Thousand 00/100 Bolivians with the Project “Implementation of Machinery for the Exploitation of the Mining Area”