Nicaragua: $50 Million Deficit in Agricultural Financing

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

Thursday, March 19, 2009

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."

For his part, Legislator Douglas Alemán noted that "among the government, the financial system, micro-finance companies and the Development Bank, a loan portfolio of $350 million will be put together for 2009, leaving a deficit of $50 million, of which the Ministry "has the hope that micro-finance companies will allot about $25 million more this year."

More on this topic

Honduras: $10 Million for Agricultural Projects

September 2010

Provided by the International Agricultural Development (IADF), the funds are earmarked for small farmers from the country’s south.

Jacobo Regalado, Agriculture Ministry, explained that the money is aimed to assist small farmers from Choluteca, Valle and El Paraíso, who may also receive the resources as micro-loans.

Honduras: $27 Million for Agriculture Projects

January 2010

The Inter-American Development Bank (IDB) will loan $27 million to a program fostering rural business.

The funds are earmarked for the departments of Olancho, El Paraíso, Colón and Gracias a Dios, and intended to fund projects by small producers. It is part of the National Program for Sustainable Rural Development (Pronaders).

$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.

Government of Nicaragua obtains financing for Agriculture

January 2009

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

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