CAF grants USD 30 million to Agrobanco to support agroindustry
Through a line of credit, the loan seeks to include small farmers to the large productive and agricultural export chains in the country
Small and medium-sized agricultural producers in the country will enter the agricultural export chains in the framework of the National Productive Diversification Plan supported by CAF, Development Bank of Latin America, through a line of credit of USD 30 million granted to Banco Agropecuario (Agrobanco).
For this effect, an agreement was subscribed between CAF's Director Representative In Peru, Eleonora Silva Pardo, and the General Manager of Agrobanco, Walther Reátegui Vela, in the presence of Enrique Díaz Ortega, President of the Bard of the development entity.
This alliance is part of the National Productive Diversification Plan, which considers that financing for small and medium-sized producers is a key factor to expand and diversify the agricultural frontier, as this sector has not been addressed by the traditional banking system.
In this respect, Silva Pardo highlighted that CAF's strategy prioritizes the agricultural industry as one of the main objectives of the Institution in the private sphere, due to the growth perspective of the sector in Peru, and its significant employment generation capacity.
She noted that, "This financing seeks to support the coordination of efforts between associations, cooperatives, etc., in initiatives that improve agricultural productivity. In addition, it has an important effect on the insertion of small and medium-sized farmers to the large productive and agricultural export chains."
At the same time, Walther Reátegui noted CAF's contribution to support production in the agricultural industry, a sector that has been strengthened through investment credits and working capital.
He stated that "CAF is an important ally in matters related to financing, allowing us to expand our basket of financial products aimed at a sector that will be able to access external markets with the corresponding value added to their harvests."
CAF's more recent content
CAF, ECLAC, IDB and PAHO Promote Sustainable Development in the G20
The Regional Organizations of the Americas congratulate Brazil on its successful G20 Presidency, highlighting its leadership on key issues such as poverty, governance, and climate change. They also reaffirm their commitment to actions that promote equity and development in the region.
Urgent Call for Action to Safeguard Caribbean SIDS at CAF Symposium
As the global community grapples with the escalating climate crisis, Caribbean Small Island Developing States (SIDS) are running out of time to secure critical investments and support needed to strengthen their economies and protect vulnerable communities from the intensifying impacts of climate change. With the window to take decisive action rapidly shrinking, CAF - Development Bank of Latin America and the Caribbean, in partnership with the Commonwealth Secretariat and the Antigua and Barbuda High Commission, brought together key stakeholders for a symposium in London to address the critical vulnerabilities Caribbean SIDS face.