ANNOUNCEMENT 13 Jun 2018

The Argentine government presented the SMEs Stimulus Comprehensive Plan with a total budget of ARS 33 billion (circa USD 12.9 billion).

NUMBER OF INTERVENTIONS

4

  • 4 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Ministry of Production. Ministerio de Producción. Novedades. "El gobierno nacional presentó un paquete de estímulo para las PyMEs por $33.000 millones" Available at: https://www.argentina.gob.ar/noticias/el-gobierno-nacional-presento-un-paquete-de-estimulo-para-las-pymes-por-33000-millones

Argentine Foreign Trade and Investment Bank. Banco de Inversión y Comercio Exterior. Novedades. "El Gobierno nacional presentó un paquete de estímulo para las PyMEs por $33.000 millones" Available at: https://www.bice.com.ar/es/novedades/el-gobierno-nacional-presento-un-paquete-de-estimulo-para-las-pymes-por-33-000-millones/

Bank of the Argentine Nation. Banco de la nación Argentina. Prensa. "El BNA participará del Plan Integral de Estímulo para PyMEs" Available at: http://www.bna.com.ar:8080/institucional/prensadoc/766_a.pdf

Inception date: 13 Jun 2018 | Removal date: open ended
Still in force

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).

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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Inception date: 13 Jun 2018 | Removal date: open ended
Still in force

Interest payment subsidy

During the presentation of the SMEs Stimulus Comprehensive Plan on 13 June 2018, the Ministry of Production of Argentina and the Bank of the Argentine Nation (i.e. BNA by its Spanish acronym) announced that 3% of the interest rate set on the resources provided by the BNA will be provided by the Ministry of Production, so that those resources will enjoy a final interest rate of 29% instead of 32%.

 
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Inception date: 13 Jun 2018 | Removal date: open ended
Still in force

Loan guarantee

Another measure included in the SMEs Stimulus Comprehensive Plan is the establishment of ARS 4 billion (circa USD 156 million) to be used by SMEs as automatic and partial loan guarantees. These resources will be distributed through the Argentine Guarantee Fund (Fondo de Garantías Argentino, FOGAR).

This action was announced by 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) on 13 June 2018

 
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Inception date: 13 Jun 2018 | Removal date: open ended
Still in force

State loan

The last measure announced during the presentation of the SMEs Stimulus Comprehensive Plan was the set up of ARS 7 billion (circa USD 273 million) managed by the Argentine Foreign Trade and Investment Bank (i.e. BICE by its Spanish acronym) to provide credit loans for SMEs projects related to energy efficiency, the development of regional economies, construction of industrial parks and purchase of agricultural machinery.

 
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