Banco Agrario has announced the reduction of the interest rates of some of its credit lines.
According to the entity’s information, the lines of small producer, peasant woman, peasant youth and Agrilisto They already have new rates that facilitate resources for the financing of working capital and the investment of production projects and initiatives.
According to the Minister of Agriculture and Rural Development, Cecilia López, “we are making a gigantic effort on the issue of credit. We are relieving, helping and empowering Afro-descendant, Indigenous and peasant farmers not to be overly indebted so they can start planting in the next cycle.”
For his part, the president of the Bank, Hernando Chica Zuccardi, indicated that “we are creating the conditions for small producers and entrepreneurs to have access to official credits from the National Bank. One of the tools to achieve this is to offer lower fares. We help the countryside by facilitating resources to finance working capital and investments in productive projects, strengthening our commitment to the development of the country’s rural areas”. (Read: Will interest rates rise further?)
Therefore, the reductions applied range from 1% to 2%, so the new tariffs for these lines are as follows:
– Small producer. IBR +4.7%.
– Country woman. IBR +3.8%.
– Rural youth. IRR +4.5%.
– Agriculturist. IBR +4.3%.
It is worth mentioning that the IBR, according to the Banca della Repubblica, is the Reference bank indicator. In other words, a short-term benchmark interest rate denominated in Colombian pesos that reflects the price at which banks are willing to offer or receive money market resources. This rate is currently around 11% per annum, but please note that these rates are short term.
For these new tariffs, Banco Agrario estimates it will place more than 3 billion dollars in the next year that will boost the Colombian countryside and agriculture.
As stated by the Bank in a press release, Banco Agrario’s commercial strength is ready and willing to serve and guide all those interested in acquiring these benefits which will boost economic growth and keep consumption active by small and medium-sized producers. .
The measure to lower the rate was given after the work days of the last two months that were carried out in the territories with the Regional Agricultural Forums of the Agricultural Bank (Sincelejo, Tunja, Yopal and Barranquilla) and the Regional Binding Dialogues (Boyacá and Casanare) , in which several requests from farmers, entrepreneurs, producers and citizens regarding concerns about high interest rates were heard and accepted.
