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 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.
Growers explained that banks are not using the special credit line created specifically for them by the Government, which is channeled through the Multi-sector Investment Bank (BMI).
Coffee growers explained that they are unable to start sowing for this season because they lack credit. They expect the government to find a solution, and make these funds available to farmers, stated Ernesto Lima, president of the Union of Salvadoran Coffee Unions (Ucafes).