Financing for Coffee Growers Announced

In Honduras, the government announced that it will provide coffee growers with 10-year loans and a 10% interest rate, with a three-year grace period.

Thursday, June 27, 2019

In the announcement made by President Juan Orlando Hernandez and the head of the Honduran Bank for Production and Housing (Banhprovi), Mayra Falck, it was specified that the maximum amount of credits for working capital will be $83,000.

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According to Hernandez "... the fall in grain prices affects the country because it is an important factor in the economy and in the previous two years "we recorded a very negative impact on the coffee price, but the message is that the price damages or benefits us all Hondurans and that is why it should be seen as a strategic national product."

Also see "Coffee: Regional Exports Fall 9%"

Regarding future projects for the sector, explains the presidential statement that "... the government would still seek to provide another 13,000 dryers for a total of 25,000, as well as the improvement of a genetic component of seed that will resist the onslaught of climate change.

Also, it requires the construction of a roadmap to improve the coffee sector, which has been developed with all components of it, until the creation of a financial product, that is, a tailored loan, 10 years term, with three years grace, the time that allows farms to produce.

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More on this topic

Coffee: Harvest at Historic Lows

March 2020

It is estimated that in El Salvador the current coffee harvest will close at 600,000 quintals, a volume similar to that reported in 1890, when the country had not invested considerably in coffee production.

The lack of maintenance work such as pruning, fertilization, weed control, pests and diseases, are some of the reasons why the volume of coffee cultivation has fallen to levels reported 130 years ago.

Guatemala: $286 Million for Coffee Sector

November 2019

The Central American Bank for Economic Integration approved a loan, which will be used to finance a program to renovate the country's coffee farm.

The financing is destined to the renovation of the coffee park of the country, through the substitution of plants damaged by plagues and diseases or with greater age that allows to revert the losses of productivity by the aging of the plantations and the effects of the rust, estimating the renovation of approximately 19.9% of the coffee park of Guatemala, informed the financial entity.

Progress in Financing Plan for Coffee Growers

September 2018

In Honduras it has been reported that the $80 million that will be granted to the coffee sector is in the stage of consultation, risk analysis and verification of loan conditions.

Representatives of the Honduran Coffee Institute (Ihcafé) reported that two banking entities presented their proposals to manage the financing, which will be under the modality of syndicated credit, which consists of several institutions lending the funds, but only one will manage them and establish the conditions.

$280 million Approved for Coffee Sector

September 2018

In order to deal with the difficulties caused by the low international price of the grain, the Honduran government plans to make resources available to 120,000 coffee producers.

The Honduran presidency reported through a statement that one of the decrees, approved by the National Congress at the proposal of the Executive, creates the Special Guarantee Fund for the Coffee Sector with an initial contribution of 300 million lempiras ($12.7 million) from the Honduran Bank for Production and Housing (Banhprovi), which will provide 2,400 million lempiras ($101.9 million) in reciprocal guarantees, which will serve to propitiate operations of twice that value ($203.8 million).

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