The Secretary of Development Planning and Federal Competitiveness, Jorge Neme, signed this Wednesday with the General Manager of Banco Credicoop, Juan Carlos Rivera and the Deputy General Manager, Sergio Clur, a collaboration agreement to establish the channeling and optimization of the resources of the “Post-Emergency Rural Recovery and Development Program”, which will be financed by the Central American Bank for Economic Integration (CABEI) and has an investment of USD 55 million.
The agreement allows Banco Credicoop channel the funds of the CABEI program, which aims to contribute to sustaining and consolidating agro-productive, agro-industrial and service activities that generate income and employment for the rural and semi-rural population, in the context of a crisis defined as post-sanitary emergency by COVID-19. This includes, “Financing for recovery and sustainability” and “Financing of investments for the incorporation of technologies”.
This agreement is part of the objective of Banco Credicoop to continue collaborating with accessible financial tools that allow small and medium-sized companies to sustain and consolidate their productive activities and support their growth and competitiveness through the incorporation of technologies.
The Secretary of Development Planning and Federal Competitiveness, in addition to obtaining the financing that Banco Credicoop will channel, will make the call and will choose which private sector beneficiaries can access these productive investment loans. The total investment of the program is USD 55 million, of which USD 50 million are financed by CABEI and USD 5 million by the National Government.
Neme stressed the importance of the agreement’s progress and explained that “Economy obtained the funds from multilateral organizations and will execute them effectively through a highly prestigious bank, which has a network of agro-industrial, agro-productive and rural cooperatives, which They will be able to apply for these loans through efficient management between the public and private sectors.”