Green light for $6 billion in development credits for the agricultural sector

by time news

2023-11-22 18:52:48

The Government of Change seeks a profitable, sustainable field and for food production to be the protagonist, highlighted the Minister of Agriculture, Jhenifer Mojica.

The resources will also be aimed at supporting agribusiness as a catalyst for the agri-food chain.

Bogotá DC, November 22, 2023

The National Agricultural Credit Commission (CNCA) gave the green light for more than $6 billion of development credit from the Fund for the Financing of the Agricultural Sector (Finagro) to be focused on the entire chain of the agricultural sector, from production to marketing.

The resources will also be aimed at supporting agribusiness as a catalyst for the agri-food chain, democratizing credit, strengthening small producers and leveraging the agri-food sector.

The idea is to turn Colombia into a global food pantry, within the goal of the National Development Plan of achieving a country with Zero Hunger.

The working capital and investment credits will be designed based on the needs of the productive project of each agricultural chain.

See also: “Public Development Banking must be stronger and the States must strengthen it,” President Petro urges bankers

The Minister of Agriculture and Rural Development, Jhenifer Mojica, who chairs the CNCA, highlighted that with these types of measures the Government of Change seeks a profitable, sustainable field in which food production is the protagonist.

“With this package of measures we continue to reinforce investment in Colombian agriculture so that family, peasant and community farming projects have capital to strengthen themselves and that the sector continues to leverage the national economy, as seen in the most recent DANE measurement” , he indicated.

See also: President Gustavo Petro asked Banco Agrario “to take the ‘gota a gota’ out of Bogotá and lend women’s associations loans at zero interest”

To confront the climate crisis

The minister said that, to face the climate crisis, the Commission approved the financing of activities that promote the transformation towards climate-smart agriculture, with the intention of consolidating more sustainable and green economies.

Ángela María Penagos, president of Finagro, stated that “the Commission’s decisions allow us to accelerate agricultural production to move towards a Colombia with Zero Hunger.”

“We want agriculture to be a source of progress and opportunities for the country,” he added.

Penagos points out that the National Government set the objective of improving the availability of food through efficient supply chains to eliminate excessive intermediation, and these types of measures contribute to that purpose.

(Fin/mha/nth)​

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