The National Coffee Association wants to use the funds from the Coffee Trust in the Rural Development Bank.
The directors of the National Coffee Association (Anacafe) have requested from the Coffee Policy Council that the $30 million balance of the "Coffee Trust, Decree 31-2001" left in the Rural Development Bank (Banrural) be used in a plan to combat coffee rust, reported Prensalibre.com.
The term of the trust, which expires in 2015 – will have to be extended so that the $37 million that is available can be loaned to producers for the renovation of coffee plantations.
S21.com.gt reports that "Because of the crisis faced by the sector in the country's coffee production in 2001-2002, the government at that time created a trust fund of $100 million, which was to be administered by the central bank, and would serve to provide credit to farmers to boost their crops. Regarding this, the National Coffee Association (Anacafe) believes that reviving the trust and extending its expiration date could save the sector. "
The extension granted by the bank to 2023, 2024 and 2025 for the payment of the Ficafé quotas has divided the coffee sector.
El Salvador's program for the rescue and reactivation of its coffee plantations, launched last May, seeks to defer repayment of the capital of the Ficafé quotas issued in 2010, 2011 and 2012 until 2023, 2024 and 2025 respectively. Ficafé is a refinancing trust for growers.
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