Nicaragua: $50 Million Deficit in Agricultural Financing

The Nicaraguan agricultural sector faces a funding shortfall of $50 million for the current production cycle.

Thursday, March 19, 2009

The Minister of Agriculture and Forestry, Ariel Bucardo, in an interview with La Prensa of Nicaragua, said that the total funding required for the three agricultural cycles is $400 million, and added that "we still do not know how much funding is available."

For his part, Legislator Douglas Alemán noted that "among the government, the financial system, micro-finance companies and the Development Bank, a loan portfolio of $350 million will be put together for 2009, leaving a deficit of $50 million, of which the Ministry "has the hope that micro-finance companies will allot about $25 million more this year."

More on this topic

Nicaragua: Microfinancers Looking For Loans

September 2011

Foreign funding may not arrive, so support is being sought from domestic banks.

The possibility of external funding being log jammed making it impossible to use in programs for 2012 has led the Association of Microfinancers in Nicaragua to seek alternative financing nationwide.

Nicaragua's Country Risk Affects Micro-financing

August 2010

The "No Payment" movement is scaring US and European investors, threatening the arrival of $70 million worth of funds for micro finance companies.

"In the last Central American Microfinance Conference the challenges and opportunities faced by the sector were discussed and the Guatemalan moderator, Reynold Walter, concluded by highlighting that governments should discourage 'no payment' movements, which received a round of applause from the attendees.

$115 Million for Nicaraguan Agriculture

May 2009

It is available to small and medium agricultural producers for the 2009-2010 production cycle.

The President of the Nicaraguan Association of Microfinance Institutions - ASOMIF, Julio Flores, noted that these loans will benefit more than 120 thousand producers. reported more statements by the president: "For 2009, micro-financial companies have big challenges, including the ability to renew and maintain the level of existing lines of credit and increasing them to meet growing productive sector demands."

Micro-finance is booming in Nicaragua

July 2008

Micro-finance has grown rapidly in Nicaragua over the last decade. Between the end of 1999 and the end of last year, the total micro-credit portfolio grew at an average 19.4 percent a year, while the number of clients grew by 25 percent a year, according to industry statistics.

Most of the loans have been made to small farmers and artisans who are usually unable to borrow money from the commercial banks.

 close (x)

Receive more news about Agriculture

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones

Looking for sawmills and lumber manufacturers

International company is interested in finding sawmills and suppliers of teak and mahogany in Central America.
The company is interested in purchasing kiln dried wood,...

Stock Indexes

(Feb 28)
Dow Jones
S&P 500


(Mar 23)
Brent Crude Oil
Coffee "C"