ANNOUNCED AS TEMPORARYNo
The Bank of the Argentinian Nation together with the Agroindustry Ministry granted 800 million pesos (ca. USD 57.2 million) in credits that will be channelled through 650 approved projects aimed at increasing the production of meat (80% corresponds to cattle breeding, 10% to poultry production, and the remaining 10% to porcine and ovine production). This finance package called "Financing for livestock and meat production"("Financiamiento para la producción de Ganados y Carnes"), will be implemented in three tranches and is earmarked for working capital associated with investment and development expenses.
The credit line consists of an annual bonus of 6 percentage points in the nominal interest rate of credits given to small and medium-sized cattle ranchers which would usually have a nominal interest rate of 22% nominal annual investment for 5 years.
The maximum amounts of financing with a subsidised interest rate reach 2.5 million pesos (ca. USD 179.000) per producer for investments and 500 thousand pesos (ca. USD 36.000) for working capital and development expenses. The payment period implemented is up to 5 years for investments and 12 months for credits related to working capital and development expenses.
⚑ Please report this page in case you detect an inaccuracy in its content.