ANNOUNCEMENT 27 Jul 2021

In July 2021, the Bank of the Argentine Nation (BNA in Spanish) launched a new credit line to finance small and medium producers of bovine meat.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Banco de la Nación Argentina - BNA. National Bank. Press release. "El Banco Nación lanzó créditos por $ 10 mil millones para el ´engorde´ de ganado, con tasa bonificada por el Ministerio de Agricultura". 27/07/2021. Available at: https://www.bna.com.ar/BackOffice/institucional/prensadoc/1087_a.pdf

Inception date: 27 Jul 2021 | Removal date: open ended

State loan

On 27 July 2021, the Bank of the Argentine Nation (BNA in Spanish) launched an ARS 10 billion (USD 103.6 million) credit line to support small and medium producers of bovine meat. The loans will be oriented to finance working capital needs with a cap of ARS 10 million per individual beneficiary (around USD 104,000). 

Among the uses of the loans, the BNA highlighted the acquisition of wheat or corn used in the fattening of cattle. Eligible beneficiaries are ranchers of bovine animals and producers of bovine meat registered in the National Service of Health and Agrifood Quality of Argentina (SENASA in Spanish).

In this context, BNA's President, Eduardo Hecker, stated: "Our responsibility and commitment to being the largest public bank in the country is to help all economic sectors, but especially small and medium-sized enterprises in the agricultural sector which have difficulties accessing accessible credits, with reasonable rates and terms".

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