CAF grants USD 30 million to Agrobanco to support agroindustry

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."