Embargoes to Salvadoran Farmers Suspended

The Legislative Assembly passed a series of measures favoring the agriculture sector.

Tuesday, September 22, 2009

One of the them obliges state banks to suspend property embargoes for a 9 month period, while recommending private banks to act in the same way.

"Another initiative asks the Government to continue providing 30% of Ficafé's annual quota. Ficafé is a refinancing trust for growers, whose quota expires on September 23", reported Elsalvador.com.

More on this topic

Bank Collateral Sales in Costa Rica Up 42%

March 2013

At the Banco de Costa Rica the volume of assets received in lie of payment increased by 70% compared to 2011.

A survey by Elfinancierocr.com between 6 financial institutions, including the four public banks in the country, revealed that in February of this year, there were 1259 properties in their possession, in contrast to the 884 properties that were reported in the same period 2012, ie there was a 42% increase.

Embargo on McDonalds Mesoamerica

August 2012

Failure to pay $24 million in compensation to Servipronto has led to an embargo of the brands McDonald's, Quarter Pounder, Big Mac and Ronald McDonald's.

An article in Elmundo.com.sv reports that "The executing judge is setting an embargo on the royalties paid by McDonalds Mesoamerica to McDonald's Corp.

New Credit Options for Salvadoran Farmers

April 2011

State banks are offering reduced interests rates to increase agricultural loans and assist in the recovery of the sector.

BFA, the Agricultural Support Bank, is providing $12 million in loans at an interest rate of 4%, in addition to $25 million provided by the Multi-Sector Investment Bank.

$50 Million For Salvadoran Coffee Industry

February 2010

The funds by BMI (Multilateral Investment Bank), are intended to reactivate coffee production.

A special credit line was created for coffee growers, producers, packers and exporters, as well as coffee societies and associations.

From Elsalvador.com: “$50 million will be available in credits across the entire financial system, at 9% interest rate, and maturing on September 2011”.

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