La Paz, June 25, 2023 (AEP) – The SIBOLIVIA credit program has successfully directed 10,531 credit operations, disbursing a total of Bs 1,421 million, according to the Vice Minister of Micro and Small Businesses, Nelson Aruquipa. In an interview with Bolivia TV, Aruquipa stated that Santa Cruz is the department with the largest amount of credits placed, totaling Bs 489 million. Following Santa Cruz are La Paz with Bs 384 million, Cochabamba with Bs 304 million, Chuquisaca with Bs 87 million, Tarija with Bs 67 million, Beni with Bs 41 million, Potosí with Bs 12 million, and Oruro with Bs 28 million.
The SIBOLIVIA credit program is granted by the Productive Development Bank (BDP) SAM and Banco Unión, through the Trust for the Reactivation and Development of the National Industry (Firedin), for the production of raw materials, inputs, and/or manufactures. This credit, which has a fixed annual interest rate of 0.5%, has been granted by the national government since December 2020. Its main objective is to contribute to the development and growth of the country’s productive units and generate employment opportunities, in line with the import substitution industrialization policy.
The SIBOLIVIA credit program is one of the first economic measures implemented by the government of President Luis Arce to reactivate the economy of micro, small, medium, and large national productive units, which were severely affected by the Covid-19 pandemic in 2020 and the decisions of the de facto regime.
The successful placement of these loans demonstrates the positive impact of the SIBOLIVIA credit program in supporting the development and growth of Bolivia’s productive sectors and creating employment opportunities.
What are the key sectors that have benefitted the most from the SIBOLIVIA credit program in terms of loan disbursements
SIBOLIVIA Credit Program: Bolstering Bolivia’s Economic Recovery
La Paz, June 25, 2023 (AEP) – The SIBOLIVIA credit program has achieved remarkable success, facilitating a total of 10,531 credit operations and disbursing Bs 1,421 million, according to Vice Minister of Micro and Small Businesses, Nelson Aruquipa. During an interview with Bolivia TV, Aruquipa revealed that Santa Cruz takes the lead, with credits amounting to an impressive Bs 489 million. La Paz follows closely behind with Bs 384 million, while Cochabamba secures third place with Bs 304 million. Chuquisaca received Bs 87 million, with Tarija receiving Bs 67 million, Beni securing Bs 41 million, and Potosí and Oruro receiving Bs 12 million and Bs 28 million respectively.
The SIBOLIVIA credit program, jointly provided by the Productive Development Bank (BDP) SAM and Banco Unión through the Trust for the Reactivation and Development of the National Industry (Firedin), primarily aims to support the production of raw materials, inputs, and/or manufactured goods. This credit program, which maintains a fixed annual interest rate of 0.5%, has been offered by the national government since December 2020. Its main objective is to contribute to the growth and development of Bolivia’s productive units, while simultaneously creating employment opportunities that align with the policy of import substitution industrialization.
As one of the first economic measures implemented by President Luis Arce’s government, the SIBOLIVIA credit program plays a vital role in revitalizing the economy of micro, small, medium, and large national productive units. These sectors faced severe challenges due to the Covid-19 pandemic in 2020 and the decisions made by the de facto regime.
The successful placement of these loans serves as a testament to the positive impact of the SIBOLIVIA credit program. Its contribution towards supporting the development and growth of Bolivia’s productive sectors and generating employment opportunities is commendable.
