The new Credit Guarantee Fund for the Union Sector (Fogagre) covers up to 50% of the loan obtained by the beneficiary of the multiple financial entity or SME, The Deputy Minister of Pensions and Financial Services, Ivette Espinoza, said Wednesday, quoted in the state agency ABI.
“This fund will cover up to 50% of the loan obtained by a trade unionist and the important thing is that does not imply any additional cost”, mentioned the authority in contact with RTP.
He pointed out that the fund was created with US$10 million, within the framework of Supreme Decree (DS) 4666 of February 2, for the people who belong to the union sector and have the ability to pay.
this background It is created with the transfer of 4.8% of the net profits obtained by Multiple Banking and SME Banking obtained in 2021as established by Ministerial Resolution No. 043.
the national government created Fogagre considering that, of approximately 1.2 million union members in the country, 90% are womenwhich are the support of the families, according to the deputy minister.
The authority reported that interest rates are those set for microcredit and SMEs. The regulated rate for the productive sector in these segments is 11.5% and 7% for small businesses.as established by Supreme Decree 2055 of 2014, which regulates the Financial Services Law.
In January 2022, heCredits for the female gender reached $7,269 million and compared to the same period in 2020, it increased by 6.8%, when they were at $6,805 million, he indicated.
“Although the rate of default that women have is less in relation to men, this access is diminished. A lot of progress has been made, but there is a lot of work to do and I want to congratulate the women for achieving the economic stability that is needed to get ahead,” she stated.
The guarantee funds made up of bank profits to date amount to US$107.5 million. The Social Interest Housing Loans (Fogavisp) with $40.38 million, the Guarantee Fund for Productive Loans (Fogacp) with $26.08 million, the Seed Capital Fund (Focase) with US$30.8 million and now Fogagre with US$10.23 million.
The new Credit Guarantee Fund for the Union Sector (Fogagre) covers up to 50% of the loan obtained by the beneficiary of the multiple financial entity or SME, The Deputy Minister of Pensions and Financial Services, Ivette Espinoza, said Wednesday, quoted in the state agency ABI.
“This fund will cover up to 50% of the loan obtained by a trade unionist and the important thing is that does not imply any additional cost”, mentioned the authority in contact with RTP.
He pointed out that the fund was created with US$10 million, within the framework of Supreme Decree (DS) 4666 of February 2, for the people who belong to the union sector and have the ability to pay.
this background It is created with the transfer of 4.8% of the net profits obtained by Multiple Banking and SME Banking obtained in 2021as established by Ministerial Resolution No. 043.
the national government created Fogagre considering that, of approximately 1.2 million union members in the country, 90% are womenwhich are the support of the families, according to the deputy minister.
The authority reported that interest rates are those set for microcredit and SMEs. The regulated rate for the productive sector in these segments is 11.5% and 7% for small businesses.as established by Supreme Decree 2055 of 2014, which regulates the Financial Services Law.
In January 2022, heCredits for the female gender reached $7,269 million and compared to the same period in 2020, it increased by 6.8%, when they were at $6,805 million, he indicated.
“Although the rate of default that women have is less in relation to men, this access is diminished. A lot of progress has been made, but there is a lot of work to do and I want to congratulate the women for achieving the economic stability that is needed to get ahead,” she declared.
The guarantee funds made up of bank profits to date amount to US$107.5 million. The Social Interest Housing Loans (Fogavisp) with $40.38 million, the Guarantee Fund for Productive Loans (Fogacp) with $26.08 million, the Seed Capital Fund (Focase) with US$30.8 million and now Fogagre with US$10.23 million.
;
