This law waives any debt held with the late Agricultural Trust (Fidagro), and the Productive Reconversion Fund.

Journalist Irene Vizcaíno writes in Nacion.com: "Both trusts were absorbed by the Development Banking System, instituted in April 2008".

Source: Nacion.com

More on this topic

BCIE: $25,000 to 23,823 families in El Salvador

May 2011

The BCIE has awarded $25 000 which will benefit small and medium farmers at a rate of one dollar and five cents per household.

The BCIE press release states verbatim, "In order to promote Central America’s social and economic development and to reaffirm its commitment as the main source of resources for the MIPYME (Micro, Small and Medium Enterprises) of the region, the Central American Bank for Economic Integration (BCIE) has allocated $25,000 to the Government of El Salvador to be used to combat rural poverty”.

Costa Rica Will Forgive Agriculture Debts

April 2010

Congress passed a bill to forgive any debts related to two agriculture financing programs: “Fideicomiso Agropecuario” and “Fondo de Reconversión Productiva”.

$5.9 million will be forgiven from the first program and $29.3 million from the second. Only small and medium farmers owing less or equal than $19.600 will be entitled to this benefit.

Costa Rican Congress Halts Debt Condonation

August 2009

A project approved in the first discussion, which condoned $13.5 million in farmer debt, was turned back for further study.

Representatives halted approval of the law in the second discussion, after realizing there were major producers among the beneficiaries.

Aarón Sequeira, from La Prensa Libre, published comments by representative Jorge Méndez: "The solution,... would be to establish a maximum amount to condone".

Government in Honduras forgives $34.5 million coffee sector debt

October 2008

The government forgave the debt on the condition that the organizations transfer that money into a trust.

In other words, producers or exporters that acquired loans will still have to pay them to the organizations with which they are affiliated and these, in turn, will transfer the funds into a trust.