Less Demand for Loans in El SalvadorFriday, September 17, 2010 Demand for credit is not growing as expected, as there are fewer investments in the country. According to Roberto Orellana Milla, CEO of Banco Agrícola, "demand for credit has dropped 4%". El Salvador: Banks raise interest rates for creditThursday, November 13, 2008 Some banks already published the adjustment and others announce that the increase in the credit rates will occur shortly, although they did not say exactly when. Scotiabank has raised the interest rates between 0.25 and 2 percent for loans. Scotiabank sales and services director, Jose Eduardo Angulo Milla, indicated that in order to not affect clients' budget, the amount for monthly loan payments has not been modified due to the interest rate adjustment, however he reported that the "non modification of the quota generates a portion of the capital that will be accumulated when the credit term expires. Agricultural Credit: Flexible Payment ExtensionsWednesday, May 27, 2020 In El Salvador, the Legislative Assembly decided to extend until June 1, 2021, the validity of the Decree of the Special Law to Facilitate the Cancellation of Agricultural and Livestock Debts. The approval was made with the aim of giving the peasants who benefit from this regulation approved in 1998 a new period of 12 months to cancel the debts acquired with the banks, the Legislative informed. Agro: Extension to Readjust DebtFriday, January 24, 2020 The National Congress of Honduras approved a decree to allow local agricultural producers with credits in arrears in Banadesa to manage the readjustment for a further six months. On January 23, 2020, deputies approved a draft decree to give producers who have debts with the National Agricultural Development Bank (Banadesa) an additional six-month extension for the readjustment of their obligations, reported the institution. Less Taxes, More CreditsWednesday, May 22, 2019 After the abolition of the Financial Operations Tax last year in El Salvador, credit to the productive sector increased from 5% in 2018 to 9% at the beginning of 2019. The Constitutional Chamber of the Supreme Court of Justice issued a ruling, in which it was ordered to cease charging at the end of 2018 a tax that levied 0.25% on financial operations of $1,000 and above. Rising Interest Rates in El SalvadorFriday, August 9, 2013 Access to credit could get more expensive due to liquidity constraints and a higher country risk. According to the Central Reserve Bank (BCR), last June returns on savings invested for 180 days was 3.44% while in the same period of 2012 the figure stood at 2.49%. In addition, interest rates on loans for over a year are 9.75% and in June 2012 they were 8.50%. Growing Demand for Credit for Coffee and CornMonday, July 18, 2011 Better prospects for coffee and maize production compared to 2010, are generating a sustained demand for credit in El Salvador for these sectors. According to information from Banco de Fomento Agropecuario (BFA) from January 2011 until July 13, 201 loans were granted to the coffee sector, totaling $11.03 million, of which 60% was allocated to maintenance . Agatha Aid: $3.5 Million for Honduran FarmersTuesday, June 8, 2010 Banadesa, the Agricultural Development Bank, announced that it has $3.5 million in loans available for farmers who lost crops due to Agatha tropical storm. Johny Handal, president of the bank, explained their plans to disburse the resources on July. In Guatemala, Credit is ColombianMonday, March 26, 2012 In the past two years, over $2 billion worth of financing for large enterprises in Guatemala has been provided by large Colombian banks. The main participant is Bancolombia, which in 2010 and 2011 was involved in syndicated loans for over $1 billion, including the acquisition of Deorsa and Deocsa by Britain's Actis, the extension of Ingenio Magdalena and financing for Cementos Progreso and Cabcorp. Honduras: Preferential Loans for AgricultureWednesday, August 13, 2014 The government has announced that the national bank will offer loans at 7.25% interest rate for productive activities in the agricultural sector. In addition to preferential loans to encourage the development of agriculture, depressed in recent months by the drought in Central America, the Honduran government has announced the creation of a $71 million trust fund to support the sector. State banks in Costa Rica to lower interest ratesMonday, February 2, 2009 The three State Banks, the National Bank, the Bank of Costa Rica and the Credito Agricola Bank, will introduce mechanisms for lowering credit rates. Nacion.com reports on its website: "The National Bank is in the process of defining what will be the specific procedures and policies in order to deal with the most urgent needs of clients," said the manager of the bank, William Hayden, in brief written response to this paper." El Salvador: Term Extension for FarmersFriday, October 8, 2010 Congress approved an extension for farmers and agro-industrial debtors so they can solve their credit problems. Debtors have until March 31st, 2011. Honduras: $5.3 Million for Bean HarvestTuesday, August 4, 2009 The Agricultural Development Bank informed it has $5.3 million in loans for bean cultivation. Céleo Osorio, Banadesa president, remarked that bean producers can immediately request their credits for the current harvest season. BANADESA Opens Lines of Credit in HondurasTuesday, June 2, 2009 The government has provided the bank with $61 million so that producers and business people have access to credit. The bank, which only made loans to the agricultural sector, will now also lend to the commercial and services sector. Costa Rica: Agricultural Credit Arrears IncreasesTuesday, May 28, 2019 In the last two years, non-performing loans to the agricultural sector increased from 2.4% to 5.9% between April 2017 and the same month in 2019. Figures from the General Superintendence of Financial Entities (Sugef) indicate that the increase reported in the arrears of agricultural loans includes operations with delays of more than 90 days, as well as operations that are in judicial collection. |
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