2024-08-28 05:23:30
President Gustavo Petro announced the consolidation of an agreement between the public sector and private banks to increase loans for productive activities in Colombia.
This agreement, reached after a meeting at the Casa de Nariño with more than 20 executives from public and private banks, seeks to mobilize an additional $55 billion over the next 18 months towards key sectors such as construction, manufacturing, agriculture and tourism.
The president highlighted the innovative nature of this agreement, which replaces the need for a mandatory investment law.“It is a pact, an agreement, an accord between the public and private sectors,” Petro stressed, emphasizing that this model of cooperation could become an example at a global level. According to him, the agreement will allow small producers and entrepreneurs, such as clothing manufacturers, farmers and builders, to access a much larger volume of credit than was traditionally allocated to them.
You can read: Energy demand grew in July
The president highlighted the importance of the working group that will continue to meet to ensure that resources are effectively allocated to productive activities.“It is a great public and private economic planning apparatus,” said Petro, indicating that this joint effort is in line with the government’s program aimed at encouraging production as the basis of national prosperity.
During the press conference, the head of state explained that The resources will come from national savings, relying on public and private banking. Petro explained that, in the housing sector, loans will increase from $31.8 billion to $40.6 billion; in manufacturing, the increase will be from $128 billion to $163.4 billion; in the agricultural sector, loans will go from $26.1 billion to $32.1 billion; and in tourism, they will increase from $6.8 billion to $8.4 billion.
This increase in funding for key sectors seeks to accelerate the country’s economic growth, creating more jobs and promoting more equitable development.
You can read: «Our proposal is to change the tariff formula in the short term»: Petro