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."
The ministry, Ariel Bucardo, reported that the Government has obtained more than $100 million to finance agricultural production for the 2009-2010 cycle.
The Inter-American Development Bank (IDB) will loan $27 million to a program fostering rural business.
The funds will be used to finance a project for the transformation of agricultural subsistence activities.
Provided by the International Agricultural Development (IADF), the funds are earmarked for small farmers from the country’s south.
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