The government has announced a credit line of $7.4 million for the production of sheep, at an interest rate of 7.25%.
The Ministry of Economic Development (SDE) reported that a credit line of L167 million ($7.4 million) is now available for sheep production. The announcement was confirmed by Arnaldo Castillo, head of the institution, reported Laprensa.hn.
The Ministry of Finance announced that $20 million will be made available for lending to the sector, with priority being given in the first stage to producers with planted areas measuring between 3 and 20 fields.
The National Commission for Transformation and Development of Coffee Plantations (Conatradec) announced that funding will be for up to 7 or 8 years, with a three year grace period, at an interest rate which will be discussed next week, along with the financing plan for coffee growers.
The new standard includes implementation of investment plans in the sector to provide direct financial assistance to agricultural producers.
From a statement issued by the National Assembly of Panama:
The full Legislature supported on its third reading amendments to the law on transformation of agricultural, dating from 2001, in order to adapt to the new conditions faced by agriculture in Panama and in the global world. The debate was attended by the Minister of Agricultural Development (MIDA), Jorge Arango.
The government's proposal includes land titling, road improvements in production areas, international promotion and funding and technical assistance for producers.
From a statement issued by the Government of the Republic of Honduras:
President Juan Orlando Hernández signed on Tuesday, in the Francisco Morazán room at Government House, two agreements to develop and promote the coffee industry in the country in terms of land titling and improving the roads leading to the farms which produce coffee.
Lafise bank announced it has $5 million to provide 7 year term loans with one year grace to producers in Leon and Chinandega.
After the meeting in Chinandega with producers and representatives from the financial institution solutions that fit the needs of the sector, the effects of climate change and fluctuations in international prices have been agreed in regards to production.
Nicaraguan banks have approximately $350 million for loans for agricultural and livestock production.
The financial entity Banpro of Promérica Group, granted up until February of this year, loans to the agricultural sector in the amount of $862 million, currently having available a loan portfolio of $150 million with an additional $70 million to finance the value chain, claim officials from the entity.
The slow pace at which the Agricultural Development Bank operates forces producers to get finance from private institutions, paying higher rates.
Although the Agricultural Development Bank (ADB) has pledged to cut the time it takes for a loan approval, from one and a half years to two months, it has not kept its promise. In 2013, the approval of agricultural loans declined by 22% compared to the previous year.
The National Agricultural Development Bank has funds available for food producers.
Jorge Handal, President of the Association of Farmers and Ranchers in Sula, reported that the National Bank for Agricultural Development (Banadesa) has $255 million available in loans for producers, which will be granted with an interest rate of 9%, lower than the market rate.
Coffee farmers will receive funding from the NAMA Facility Fund of Anglo-German capital in order to reduce the emission of greenhouse gases and improve their competitiveness.
Nación.com reports: "With that money, the idea is to make the national coffee production greener through four areas: reducing the use of nitrogen fertilizers, new uses for drills, planting trees in coffee plantations and using water and energy efficiently in processing plants. "
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