The Government announced an expansion of financing for the poultry sector

The Government announced an expansion of financing for the poultry sector

Photo: @danielscioli (Twitter)

The Minister of Productive Development, Daniel Scioli, and his counterpart for Agriculture, Livestock and Fisheries, Julián Domínguez, announced the expansion of financing for new productive investments for the poultry sector up to 30,000 million pesos.

The announcement, which was made official with the signing of an act between both ministers, and the presidents of the Center for Poultry Processing Companies (CEPA), Roberto Domenech; from the Argentine Chamber of Poultry Producers (CAPIA), Javier Prida; and the Banco de la Nación Argentina, Eduardo Hecker, was held within the framework of the celebration of the National Poultry Day that took place in the central hall of the Buenos Aires Cereals Exchange (BCBA).

In this way, the Government increased from $10,000 million to $30,000 million the financing for new investments in infrastructure and the modernization of the productive facilities of the sector through the National Productive Development Fund (Fondep).

Thus, companies in the poultry sector will have a specific quota that will allow them to access credits with a subsidized rate from the Fondep of up to $500 million from the Export Promotion and Import Substitution line, and loans of between $70 million and $1,000 million from the line for strategic projects with Banco Nación.

They may also request the line of direct credits from the Ministry of Productive Development, without bank intervention, which offer financing of up to $30 million.

The loans, depending on their destination, will have a repayment term that ranges from 64 to 84 months, with a grace period of one year.

In this regard, Scioli said that this credit expansion “is the result that we can present today of a work by Julián Domínguez, from the SME Secretariat and the businessmen, based on the need to expand to a second stage after the first successful one of $10,000 million that were destined to modernize the infrastructure and accompany the efforts of those who undertake and produce in a strategic sector of the economy”.

For the national official it is necessary that “at this time in the country we make the greatest efforts” and that “both the public and private sectors should not wait for people to come and buy from us, but rather we must go out and sell. This is the identity of our country “.

Domínguez, who thanked the private sector for the contribution they make to the country, remarked that

“The basis of progress is building common rules, which is the most difficult part. We, in these difficulties, are building a path of cooperation. I am convinced that we are going to get ahead.”

To conclude, he stressed that from the Government there is a “country project that is tied to industrialization and without industrialization of production it is impossible to grow and export.”

For his part, the president of Capia, Javier Prida, welcomed the expansion of financing, but also requested a readjustment of VAT for egg products, the opening of more international markets and “invigorate the mechanisms to achieve the supply of basic inputs for production “.

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