The Minister of Agriculture and Rural Development, Rodolfo Zea Navarro, announced the launch of a new Regulatory decree of the Financial Relief Law, which provides benefits and payment alternatives to small and medium producers in all regions of the country.
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“We are announcing new financial reliefs for growers in the field. Among the new measures established by the new regulatory decree is the total cancellation of current interest and default interest to the portfolio of small and medium producers, who, as of November 30, 2020, had a debt of 180 days or less“, He said.
President Iván Duque announced the signing of the Decree 1730 of 2021, that, in addition to providing financial relief and payment alternatives, allows the Financial Relief Law to be enacted at the end of 2020.
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In addition to the new measure, there are seven more that will allow maximize payment alternatives to small and medium producers such as:
– The credit conditions Due as the penalty or the payment of the guarantee of the Agricultural Guarantee Fund (FAG) will be determined at the time the producer establishes the agreement. The only thing that is tied to the date of November 30, 2020 is the height of default of the credit, as established by the Law.
– The portfolio, depending on its default height, less than $ 80 million that is provisioned by 80%, you will be able to access the capital reductions of groups 1 and 2, which are the groups with the highest benefit.
– The deadline was extended until March 31, 2022 And now it will be until June 30, 2022, to access the benefit of 95% discounts to small producers who owe up to 2 million pesos of capital and pay 5% in a single payment.
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– The benefits of financial relief They will not only apply to rural women, but to women in general, who have accessed agricultural credit and who meet the other conditions of the decree.
– They were included within the forgivable concepts, the pre-legal and legal fees, and the FAG commissions for those obligations that are punished. In this case, 100% of these concepts will be forgiven and, if not, they will be forgiven according to the percentage of provision thereof, which allows to maximize the relief to thousands of debtors.
– It was emphasized that these financial relief They are for small and medium producers, who are both natural and legal persons.
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– It was also clarified that legal persons, At the time of requesting the loan, they accessed as associative credits or associative schemes. For this reason, they were not classified as small or medium producers, but they are made up of small or medium producers or producers and are also beneficiaries of the reliefs according to the conditions.
Finally, those interested in accessing each of these benefits should approach Banco Agrario de Colombia, contact Finagro or the private bank with which they have agricultural credit debts backed by the FAG, and ask about the new provisions of financial relief established by Decree 1730 of 2021.
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