Nicaragua: $ 21 Million for Livestock Sector

The Production Development Bank will earmark $ 21 million this year for financing the livestock sector.

Friday, February 11, 2011

Considering the announcement, the Federation of Livestock Associations of Nicaragua (Faganic), mentioned the sector's difficulties in getting loans approved.

"... Joaquín Lovo, CEO of Produzcamos Bank, said the delays in approvals are mainly because most farmers have not updated their deed records of their properties which are as bank guarantee," reported Laprensa.com.ni.

More on this topic

Nicaragua: Farmers Complain About Credit Crunch

July 2011

They claim they need more resources in order to sustain the current pace of industry growth and exports.

In the first half of the year livestock exports totaled $290 million, and it is estimated that the figure at the end of the year will be $576 million.

However, to achieve this goal, they need to maintain the current level of productivity, for which they require financing from the banks, which has reduced lending to the sector this year.

Private Lending Slows in Guatemala

March 2009

Credit to the private sector grew by 11.2% in January, a lower growth than for the same period last year when the increase was 26.4%.

Reporter Jessica Gramajo wrote in the SigloXXI website: "Data from the Bank of Guatemala (Banguat) reported that in January of this year the banking system maintained a loan portfolio of $10.901 million (Q 87.240,8 million).

$25 Million for Nicaraguan Cattle Farmers

November 2011

Lafise-Bancentro has launched a financing plan with low-interest credits aimed at the cattle farming sector.

Loans from $1 million up to $5 million will be available, depending on recipients' ability to repay at an interest rate of 8.5%.

According to Nicaragua's El Nuevo Diario, Lafise-Bancentro director, Carlos A.

Credit Grows 23.5% in Nicaragua

September 2013

Between January and July 2013 financial institutions granted loans worth $3 billion, $574 million more than in the same period in 2012.

Globally, credit rose by 23.5% up to July, lower than that reported in the same period in 2012 when it was 32.8%.

Data from the Central Bank of Nicaragua (BCN), reveals that although funding to the agriculture and livestock sectors grew by more than 23%, the two remain the least attractive sectors for banks.

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