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BancoEstado and Minagri announce the continuation of the financing of Ciembra Port Chile.



The funding, which will be available for all agricultural commodities from April, covers the operating costs of agricultural production, including purchasing seeds, hiring workers, purchasing fertilizers and common agricultural inputs. .

state bank and the Ministry of Agriculture (Minaguri) To mitigate price increases for various agricultural commodities and inputs, for the 2023-2024 season, Working Capital Development Credits in Chile which in 2022 has already funded 4,693 clients of various production sizes.

Jessica López, President of BancoEstado, emphasized the importance of this funding, allowing BancoEstado to support many farmers and businesses of various sizes.

Agriculture Minister Esteban Valenzuela said last year that “Food crisis with a large increase in inflation, in this situation it was possible to achieve an interest rate of 0.9% in a very difficult time.

Through 2022, this funding Helped mitigate rising input prices Allowed the continuation of agriculture, especially livestock, fruit and horticultural production.

As the economic situation in this important economic sector continues to be complex, this credit will be available again from April 2023 to support the start of the new agricultural season beginning in May of this year.

The BancoEstado Sowing for Chile Working Capital funding is intended to cover the operating costs of agricultural production, including the purchase of agricultural inputs (e.g. fertilizer, veterinary supplies, seed purchases, etc.) and has a maximum term of 18 . Moon. For micro and small business banks, it is available on all agricultural products with interest rates varying between 1.03% and 1.35% nominal monthly.

To strike a balance, the bank’s president explained that the regions with the most borrowing customers are: Maule is 1,006 for a total of MM$16,252. And he’s Ñuble he has 533 clients and is worth MCh $4,994.

Microenterprise banking leads credit offering , provided 82% of all farmers, or 3,863 people, with a total of $19,589 MM. Then there was the Small and Medium Business Bank with 785 borrowing his 39.496 billion CH loan and finally there was his Wholesale Bank with 46.297 billion CH with 45 farmers.

The average amount of working capital for farmers in micro-enterprise banks was 5,071 Tish dollars and 50,313 Tish for farmers in small and medium enterprise banks. On the other hand, the average wholesale banking loan to farmers and businesses was 1,028,822 ti dollars.

Source: Biobiochile

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