Mario Ramon Lopez, president of Banadesa, reported that they have $90 million as a part of the Bank's budget, and another $95 million that will come from various accords with Venezuela, in particular from the Bolivarian Alternative for the Americas.
"This will triple the credit offer to meet the need for financing by small and medium producers," Lopez said.
The official indicated that the resources will be offered under soft conditions with mechanisms identical to those that have been applied in the last few months.
State banks will have more than $100 million in loans available for agricultural producers.
The Agricultural Development Bank expects to lend $95 million, while the Multisectoral Investment Bank said that it loaned $54 million to the sector last year. However, there is still no estimate on how much it will lend in 2009.
The Trust for financial support for the coffee sector has made $38 million available for financing the sector.
The coffee price crisis of 2002, which affected small producers, was the reason for the creation of the trust, which has since provided funds to farmers for different situations that the industry has faced.
The Outlook for Agriculture and Rural Development in the Americas: A perspective on Latin America and the Caribbean 2011-2012.
ECLAC, FAO and IICA press release:
San Jose, Costa Rica, October 21 (ECLAC/FAO/IICA). Despite the current context of volatility and high food prices, in the long term, the agricultural sector in Latin America and the Caribbean (LAC) will be able to take advantage of the opportunities afforded by having available land - albeit concentrated in a few countries- a relative abundance of water, biodiversity and well-educated human resources.
The EU announced $25 million in aid to Guatemala and $17 million to Honduras for agricultural development.
According to what Laprensagrafica.com published, the announced assistance by the European Commission is aimed at "improving access to fertilizers, seeds and other agricultural products, and measures to boost agricultural production such as micro-credit, rural infrastructure and financing of public works such as roads or irrigation systems which are labor intensive. It also foresees improved access to veterinary services and agricultural advice."
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