Continuing with the policy of increasingly reducing interest rates, the Colombian Agrarian Bank announced a new decrease in some of its lines, which constitutes the fifth consecutive reduction since this crusade began last December.
According to the President of the entity, Hernando Chica Zuccardi, the new drop occurred in the Special Lines of Credit (LEC) Rural Women and Rural Youth, opened last April and which are part of the package of nine LEC lines announced the Government for this year, with reductions so important that in some cases they are below 12% annual EA, which means less than 1% monthly.
With regard to the LEC Rural Woman line, the Bank indicated that the reduction applies to the four categories, that is: Low Income Small Producer, Small Producer, Medium Producer, and those registered as victims, displaced, demobilized, reinserted, reincorporated and/or linked to the Comprehensive National Plan for the Substitution of Illicit Crops (PNIS).
In this case, the reduction was up to 87 basic points, in such a way that the rates remained on average at 13.47% EA, with the lowest being 12.20% EA for small-scale, low-income rural women producers.
On the other hand, the lines for Rural Youth remained on average at 12.56% EA and apply to Small Low Income Producers, Small Producers, and also for young people classified as victims, displaced, demobilized, reinserted, reincorporated and/or linked to the PNIS; in this last case the rate remained at 11.98% EA, less than 1% per month.
It should be noted that with these lines, working and investment capital can be financed for agricultural, agricultural, livestock, aquaculture, fishing, animal husbandry and beekeeping activities; planting and maintenance of short-cycle, perennial and forestry crops; and purchase of animals, infrastructure and/or equipment for marketing and/or transformation processes.
Source: Agrarian Bank