Banks disbursed $10.6 billion in the first month of the Credit Pact

by times news cr

The Government announced a significant growth in disbursements to the prioritized strategic sectors, as part of the Credit Pact, signed with the Association of Banking and Financial Entities of Colombia (Asobancaria).

In September 2024, the first month of implementation of this agreement, disbursements increased by 26%, reaching 10.6 trillion pesos, a figure that exceeds the initial goal of 9.6 trillion pesos projected by the bank.

The sectors that experienced the greatest growth were manufacturing and energy transition, with an increase of 33%, accumulating 6.7 billion pesos. The housing and infrastructure sectors also stood out, with an increase of 22%, reaching 2.2 trillion pesos, and tourism, which grew 23%, with 330,000 million pesos.

In a press conference held at the Casa de Nariño, the Minister of Finance, Ricardo Bonilla, together with the financial superintendent, César Ferrari, the president of Asobancaria, Jonathan Malagón, and the director of DAPRE, Laura Sarabia, explained the progress of the first month of the Credit Pact. Bonilla stressed that, in the last 18 months, credits have been granted for 194 billion pesos and that the goal for the next 18 months is to reach 249 billion pesos, with an additional effort of 55 billion pesos as part of this pact. .

“In this additional effort, the result of the first month is overwhelming: 10.6 billion pesos were disbursed, which represents 26% more compared to the same month of the previous year“said Bonilla, highlighting the growth in the manufacturing industry and energy transition sectors, which received an additional 6.7 billion pesos.

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For his part, the financial superintendent, César Ferrari, called on the prioritized sectors to submit their credit applications, highlighting that “the demand for credit is essential to continue with these disbursements.” Ferrari also recognized the efforts of the private sector, noting that the pact is a significant contribution to the country’s economic growth.

Asobancaria

The president of Asobancaria, Jonathan Malagón, celebrated the 26% growth in disbursements and described it as “a historic milestone.” According to Malagón, the current growth rate is exceptional, even after adjusting for inflation, and he is confident that it will be maintained in the coming months. “If we continue with this pace of 3 billion additional pesos per month, we will be very close to reaching the goal of 55 billion pesos in the next 17 months,” said Malagón.

In addition, he invited private sectors to take advantage of current liquidity conditions. “Today the conditions of the economy are extraordinarily good to obtain credit, and this pact sends a message of confidence to the country,” he added.

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