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Bolivia
The Government has Bs 100 million of loans ready to deliver to the productive sector, destined to promote the gradual substitution of imports through two trusts for a total amount of Bs 911 million, established by Supreme Decree 4424, of December 18, 2020, with an annual interest rate of 0.5%.
“Several credits have already been given, we understand that there are like 100 million Bolivians of credits that are ready to be delivered in these weeks,” reported the Minister of Economy and Public Finance, Marcelo Montenegro, within the framework of the Public Surrender Final Accounts 2020.
The trusts are channeled through the Productive Development Bank (BDP) SAM for an amount of up to Bs 468.4 million and with Banco Unión SA for Bs 442.7 million, destined to operating or investment capital, with the substitution of imports.
According to Montenegro, the trust is one of the various measures applied by the Government to reactivate demand and supply in the domestic market, through the injection of resources to boost the productive sector.
On January 25, President Luis Arce Catacora delivered the first loan for more than Bs 3 million, within the framework of the two trusts. Since then, the BDP SAM and Banco Unión have been channeling loans to different productive sectors.
The Minister of Economy indicated that so far the delivery of approximately Bs 15 million has been made.
“We believe that they are elements of important reactivation in the Bolivian economy,” he said.
The trust is expanded
Montenegro pointed out that the trust of Bs 911 million (about $ 130 million) was expanded by an additional $ 50 million (about Bs 350 million).
He added that 0.5% of the annual interest rate —which is the lowest in the financial market— is intended to cover the administrative costs of the entities in charge of operating the credit through the trust called Reactivation and Development of the National Industry (Firedin) with Import Substitution (SI Bolivia).
The credits have a term of 5 to 10 years, and grace periods of 6 months to 1 year with monthly payments up to semi-annual or personalized.
The Supreme Decree 4424 has the objective of reactivating and developing the national industry and promoting the production of goods and supplies with the substitution of imports.
Beneficiary natural or legal persons must have an active Tax Identification Number (NIT), of the Simplified Tax Regime or General Regime.
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