$58 Million for Honduran Agriculture

The state's farming ministry (SAG) has announced that resources will be made available to finance the country's food producing sectors.

Wednesday, August 11, 2010

Approximately $58 million is held in a trust managed by the Honduran Central Bank (BCH), provided by Petrocaribe, a Caribbean oil alliance with Venezuela.

La Tribuna reports comments from SAG viceminister, Juan Ángel Artica, saying that, "President Porfirio Lobo Sosa has authorized us to initiate projects that will benefit national agricultural by using funds from Petrocaribe. Not only will the funds go towards the rice sector but there will also be help for all food producers, since we have shortages of other grains too".

More on this topic

More Agricultural Loans in Panama

June 2015

Despite the decline in the sector, the balance of agricultural loans is growing and April 2015 amounted to $1,448 million, with BNP, Global Bank and Multibank granting the most loans.

Figures for April 2015 show that the National Bank of Panama (BNP) has a balance of agricultural loans of $445 million, Global Bank with $300 million, Multibank with $162 million and Banistmo $110 .

Agro Panama: Conditions for Interest-Free Loans

August 2014

Access to credit at 0% interest for the agro sector, announced in the plan for support to the sector, only applies to certain agricultural crops and dairy farming.

The program for granting interest-free loans for agriculture, which runs until December 2016, has several conditions and limitations as it does not apply for any type of investment or activity in the sector.

New Resources for Panamanian Farmers

May 2011

The Agricultural Development Bank (BDA) is making procedures more flexible in order to expedite loans to the agricultural sector.

The financial institution will lend up to $10 billion with an interest rate of 2% in regional fairs, and will expedite the necessary paperwork to formalize the credit.

$100 Million for Honduran Agriculture

July 2010

The investment, backed by the IDB and the World Bank, consists of various projects to support the farming sector.

The minister for the state's farming council (SAG), Jacobo Regalado, highlighted in particular the “Rural Competitiveness” project. This scheme will last six years, benefit seven departments and is aimed at helping the rural poor.

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