Government of Nicaragua obtains financing for Agriculture

The ministry, Ariel Bucardo, reported that the Government has obtained more than $100 million to finance agricultural production for the 2009-2010 cycle.

Friday, January 23, 2009 reports: "Bucardo acknowledged that with this fund "they cannot meet the demand from the sector: and that is why they hope that this year the National Assembly will expedite the approval of the board of directors of the Produzcamos Bank in order to "seek more resources."

More on this topic

Panama: Bureaucracy Blocking Agricultural Competitiveness

March 2014

The slow pace at which the Agricultural Development Bank operates forces producers to get finance from private institutions, paying higher rates.

Although the Agricultural Development Bank (ADB) has pledged to cut the time it takes for a loan approval, from one and a half years to two months, it has not kept its promise. In 2013, the approval of agricultural loans declined by 22% compared to the previous year.

Nicaragua: $15.6 Million for Food Supplier Agricorp

November 2009

The loan from the IDB will help the company refinance short-term debt, releasing funds to expand facilities and provide credit to small producers

The Inter-American Development Bank approved a US$15.6 million loan to help Corporación Agrícola S.A. (Agricorp), Nicaragua’s leading distributor of rice, wheat, beans, and other staple food products, to ensure reliable food supplies and expand opportunities for small-scale farmers.

$14.98 Million for Salvadoran Agriculture

April 2009

The funds will be used to finance a project for the transformation of agricultural subsistence activities.

The loan by the International Fund for Agricultural Development (FIDA) will directly benefit 33 thousand people and promote the modernization of agricultural production.

Nicaragua: $50 Million Deficit in Agricultural Financing

March 2009

The Nicaraguan agricultural sector faces a funding shortfall of $50 million for the current production cycle.

The Minister of Agriculture and Forestry, Ariel Bucardo, in an interview with La Prensa of Nicaragua, said that the total funding required for the three agricultural cycles is $400 million, and added that "we still do not know how much funding is available."

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