In Costa Rica, a law initiative under discussion seeks to set caps on interest rates on loans, a measure that could lead to a reduction in the offer of credit for debtors classified as higher risk.
As part of a bill being discussed in the Legislative Assembly, the heads of the Central Bank of Costa Rica (BCCR) and the General Superintendence of Financial Entities (Sugef) were asked to give their views on the content of the proposal.
With a $50 million loan from the IDB, the CMI Alimentos business group will expand its operations in Guatemala, El Salvador and Honduras.
The loan was placed through IDB Invest, a member of the Inter-American Development Bank (IDB) Group, and the operation is intended to finance fixed investments that will help CMI Alimentos continue improving its productivity.
Arguing that the country's situation is complex and that the need for greater liquidity to meet its immediate responsibilities has had consequences on its funding sources, Factoring S.A. announced its exit from the local stock market.
Managers of the financial institution reported that the company began operations in 1998 and in 2011 was authorized by the Superintendence of Banks and Other Financial Institutions (Siboif), to make issues in the stock market.
To ensure financing for its future functions, the Costa Rican government will seek loans from the World Bank, IDB, CABEI and CAF during 2020, and plans to insist on the approval of $4.5 billion in Eurobonds.
For this year, the Costa Rican government plans to continue negotiating loans for budget support with the World Bank, the Inter-American Development Bank (IDB), the Central American Bank for Economic Integration (CABEI) and the Andean Development Corporation - Latin American Development Bank (CAF).
The Costa Rican government and producers signed an agreement that establishes that any government agency may request resources to carry out national and international activities to prevent or combat any pest that affects banana crops.
A bill is being discussed in Congress to facilitate financing for producers and to support them in certifying the quality of their plantations.
Because of the complex scenario faced by African palm producers because of low international prices, the Hernandez administration presented to Congress the bill "Law for the Strengthening of the Productive Sector of Oil Palm."
Banco Cuscatlán approved a $10 million loan for the construction of part of the Ventus wind farm, which will have a capacity of 54 MW and will be in the municipality of Metapán.
Facilitating credits for producers, as well as encouraging the production and marketing of honey, are some of the plans that the Salvadoran authorities have for the coming years.
The Ministry of Agriculture and Livestock (MAG) will implement the 2019-2028 Beekeeping Sector Policy, which was developed by the productive sector in the National Beekeeping Table, with financing from Swisscontact and the Inter-American Development Bank (IDB), through its innovation laboratory BID-LAB, informed an official source.
After the Netherlands decided not to give $21 million to the Ortega administration for the construction of the North Caribbean Regional Hospital, the Nicaraguan government assured that it will finance the work with its own resources.
According to official information, the hospital project, which will have a total cost of $82 million and will be financed by a loan from the Central American Bank for Economic Integration (CABEI) and funds from the Government of Nicaragua, is expected to begin construction on August 23.
In Honduras, a temporary provision was approved so that producers who have been affected by climatic factors, pests, prices or general market conditions can adjust their debts.
The measure that will be in force until December 31, 2019, contemplates the refinancing and adaptation of the loans that coffee producers and/or traders have with the institutions supervised by the National Commission of Banks and Insurance (CNBS).
Banco Agromercantil de Guatemala announced a $43 million loan for the construction of part of the 54 MW Ventus wind farm to be located in the municipality of Metapán.
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.
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.
World Bank financing will be used for recovery from earthquakes, volcanic eruptions, floods, hurricanes and other natural disasters.
Resources will be disbursed on a deferred basis in the event of catastrophes, and funds would be activated and disbursed following an official State declaration of public calamity, in accordance with national legislation.
The Central American Bank for Economic Integration expanded the Social Fund for Housing's Global Line of Credit by $60 million to $100 million.
From the CABEI statement:
Tegucigalpa, May 24, 2019 - The Central American Bank for Economic Integration (CABEI) granted an extension to the Global Credit Line (LGC) of the Social Fund for Housing for US$ 60 million, the new amount is US$100 million.
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