Banco Agrario announced a new rate reduction in some of its lines. This is the fifth straight cut since this trend began last December and comes in response to repeated calls from President Gustavo Petro.
Hernando Chica Zuccardi, president of Banco Agrario, assures that the new decline occurred in the Rural Women and Rural Youth Special Lines of Credit (LEC), which opened last April and are part of the package of nine LEC lines for which he government has announced this year, with discounts so significant that in some cases they are below the 12% annual EA, which equates to less than 1% per month.
With regard to the LEC Rural Woman line, the Bank has indicated that the discount applies to the four categories, namely: Low-income small producer, Small producer, Medium producer and those registered as victims, displaced persons, demobilized, relocated, re-admitted and/or or linked to the Comprehensive National Plan for Substitution of Illicit Crops (PNIS).
In this case, the reduction was a maximum of 87 basis points, such that rates remained on average at 13.47% EA, with the lowest being 12.20% EA for low-income small-scale rural female producers.
On the other hand, the lines for rural youth remained on average at 12.56% EA and apply to low-income small producers, small producers, and also to youth classified as victims, displaced, demobilized, relocated, re-admitted and/or linked to the PNIS; in the latter case, the rate remained at 11.98% EA, less than 1% per month.
These lines allow financing of working capital and investments for agriculture, farming, livestock, aquaculture, fishing, livestock and beekeeping activities; planting and maintenance of short-cycle, perennial and forestry crops; and procurement of animals, infrastructure and/or equipment for marketing and/or transformation processes.
“In this way, we remain committed to promoting financial inclusion and boosting the people’s economy with accessible credit, in this case for our rural producers,” said Chica Zuccardi.
He emphasized that since April 12, when the Bank opened LEC lines, with a May 5 close, placements of $46.593 million have been recorded with Rural Women and Rural Youth.
Source: El heraldo
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