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.
A bill prepared by the Central Bank would require all financial entities to request authorization from the institution before obtaining dollar loans from abroad.
With this measure and others such as modifying the legal reserve requirement in foreign currency, which currently stands at 15%, the Central Bank of Costa Rica aims to stop the growth that has been seen in loan portfolios in US currency. In 2015 alone dollarloans grew by 14%, although measures have been taken in relation to funding requests from companies and individuals that do not generate revenue in that currency.
With a line of credit granted by the Latin American Bank for Foreign Trade and the Dutch Development Bank, Banco Ficohsa will finance renewable energy projects.
From a statement issued by Banco Ficohsa:
Tegucigalpa August 27, 2015, Banco Ficohsa has been provided a credit line by the FMO and Banco Latinoamericano de Comercio Exterior (Bladex), SA in the amount of US $60,000,000.00 (sixty million US dollars).
The drop from 20% to 6% in the annual growth rate of bank lending to companies as of June, illustrates the direct link between confidence in the future and demand for business loans.
Cathay Bank estimates that slower growth in bank loans for business activities is due to the uncertainty regarding the near future of the economy. The possibility of a tax reform, coupled with the lack of action by the government to reduce spending and increase public investment are factors that are raising questions and forcing companies to delay projects.
Excess dollars due to higher income from remittances and foreign credit lines account for the 18% increase in the loan portfolio in that currency.
The reporting period is the year between June 2014 and March this year.
The increase in remittances and credit lines that banks have externally has generated a surplus which the banking system captures and re-enters the market through loans. Of the total portfolio, the segment of consumer loans has registered the highest growth, explained Benjamin Arriaza, director of operations of Banco de los Trabajadores (Bantrab) to Elperiodico.com.gt.
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.
The Agricultural Development Bank has obtained a $58.2 million loan which will be dedicated to domestic producers for the fiscal year 2014.
Prensa.com reports: "The figure is higher by $3.4 million, compared to 2013, it comes from the budget of $89.4 million which was presented to the National Assembly by Rigoberto Amaya, manager of the Agricultural Development Bank (BDA)".
The Bank of Costa Rica and the Foreign Trade Promotion Office are to launch a credit program for exports.
"Funding is one of the main barriers to the development of the national export sector, preventing our companies from realising their true potential. This program will directly benefit over 2,000 exporting companies from all over the country," said Mario Rivera, general manager of the BCR.
The BCIE has granted an additional $3 million to Desyfin's global credit line, meaning that the total amount it now has reaches $10 million.
With this money Desyfin will finance "programs to support micro, small and medium enterprises, financial intermediation programs for social housing, the housing and urban improvement program, and factoring products for suppliers," explains Nacion.com.
During the VIII Petrocaribe Summit it was reported that the rate of interest on oil bills will be changed, increasing from between 2% to 4%.
The Guatemalan Vice President Roxana Baldetti, explained that Venezuela has modified the interest payment according to oil and oil supplies for more than a dozen Latin American countries. Guatemala's concern is so great that it no longer considers the agreement attractive and could move away from it.
The growth in the last three years is mainly due to easier credit by local banks and the economic growth that the country has been experiencing.
Data from the Transit and Transportation Authority (ATTT) reveals that in 2010 there were 550,000 cars circulating in Panama, while so far in 2013 the number has increased to 900,000, ie, in just three years over 350 thousand automobiles have been added to Panama's roads.