ANNOUNCED AS TEMPORARYNo
State aid, nes
On 13 June 2018, the Ministry of Production of Argentina, the Bank of the Argentine Nation (i.e. BNA by its Spanish acronym) and the Argentine Foreign Trade and Investment Bank (i.e. BICE by its Spanish acronym) announced the launch of a comprehensive plan for SMEs.
One element of this plan is the establishment of ARS 22 billion (USD 857 million) to be made available to SMEs in advance of their sales. These resources will be distributed by the BNA and the BICE.
With regards to the BNA, this financial institution has set up ARS 10 billion (circa USD 390 million) to discount checks at a bonified interest rate of 29%.
As for the BICE, the total resources distributed to discount checks and factoring is ARS 12 billion (circa USD 468 million).
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