ANNOUNCEMENT 26 Jul 2010In July 2010, the government of Argentina announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
- Ministry of Industry: http://www.mit.gob.ar/?p=3488
On July 26 2010, the Government of Argentina announced a soft loan program aimed at boosting production of small and medium enterprises.
The measure consists of an allocation of AR$ 200 millions (US$ 50 millions) that will be channelled through 23 banks in the form of soft credits at an annual interest rate of 10%. A 5% extra bonus will be also granted to working capital and investments.
In addition, the Government announced that tax benefits stipulated in the Law of Investment Promotion will increase from AR$ 500 millions (US$126 millions) to AR$ 700 millions (US$176 millions) for large enterprises, and from AR$300 millions (US$ 76 millions) to AR$ 350 millions (US$ 88 millions) for SME´s correspondingly.