Before the eagricultural emergency declared by the Ministry of Livestock this weekfrom the National Development Agency (ANDE) decided to financially support micro, small and medium-sized enterprises (MSMEs) that have suffered significant economic losses as a result of adverse weather events, with a line of subsidized credits.
The purpose of these loans is to fully or partially finance working capital and investment capital, with interest rates subsidized by ANDE, lower than those of the market, and with longer grace periods.
In pesos, the interest rate is 15%, and a maximum amount of $300,000 can be requested.. In Indexed Units, the maximum amount is 200,000 with an interest rate of 2%, and in dollars, it is up to US$ 20 thousand with an interest rate of 2%. The grace period to start paying the loan will be 12 months. The credits are granted by the microfinance institutions linked to the Program. This credit will be valid until June 30, 2023.
Adverse weather events must be reported by the Cecoed (Departmental Emergency Coordination Center) or declared by the competent ministries. These events refer to tornadoes, hail, floods, drought, massive fires, heat wave, cold wave, volcanic ash, earthquakes, impact by hazardous substances or others.
Those MSMEs located in the territory where the adverse events occurred may be financially assisted. The disbursement of the credit must be made within a period of less than 90 days after the event occurred.. The economic damages/losses caused in said company derived from the event must be verified through documents, photographic records or others.
For more information on the conditions, and the list of microfinance institutions adhered to this program, you can consult in this link.
