National Agricultural Credit Commission Authorizes New Line of Loans for Productive Transformation in the Countryside

Offering easy access credit at low rates is one of the main strategies to strengthen agricultural profitability and productivity.

Hence, it is positive that for this year the National Agricultural Credit Commission authorized the creation of a line of loans whose first objective is the productive transformation of the countryside.

Likewise, according to the ministry of the sector, the Indicative Credit Plan 2024 was activated, with which the allocation of development credits for the countryside is estimated between $25 and $26 billion.

The Commission established that peasants will be prioritized in credit operations. For this reason, it is projected to provide between $4.8 billion and $5.5 billion for small and low-income small producers.

These resources, managed by Finagro, will be accompanied by Special Lines of Credit with a subsidized interest rate.

According to the entity, this new line of credit will be for productive and sustainable transformation, for which an interest rate of IBR + 6% was set for small producers and low-income small producers.

On the other hand, there will also be new resources for the Rural Capitalization Incentive (ICR), a mechanism through which a benefit is granted to farmers and producers to reduce their credit balances. This being the case, a small low-income producer will receive the incentive up to 40% of the value of the project investment; a small producer up to 30% and the medium one up to 25%.

2024-01-08 07:56:38
#Development #credits #peasants