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.
For its part, the president of Banco Hipotecario, Roberto Navarro, told La Prensa Gráfica: "In our $170 million portfolio, nearly 20% [$ 34 million] is for the agricultural sector."
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."
The National Bank for Agricultural Development (Banadesa) reported that it will make a total of $185 million available in credit for the agriculture sector.
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.
With a contribution of $5 million, the US Agency for International Development announced the extension of the program.
The U.S. ambassador, Hugo Llorens, informed the extension of the Rural Economic Diversification Program (USAID / RED) for 21 additional months.
La Tribuna published on its website, "USAID/RED works with micro, small and medium sized rural enterprises to enhance competitiveness, expand exports and local sales and promote increased production and investment in products with higher value."
The United Nations' International Fund for Agricultural Development (IFAD) has granted Panama a credit of US$4.2 million for a rural modernization project.
The aim of the initiative, according to IFAD, is to improve the social and economic conditions of 10,000 people in central Panama, most of them small farmers, landless laborers, housewives and unemployed youths with annual income of less than 600 euros (US$953).
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