The Ministry of Agrarian Development and Irrigation (Midagri) resolved the modification of the Operating Regulations of the National Government Guarantee Program for Business Agrarian Financing (FAE-Agro). Thus, the agricultural seasons contemplated will be considered until August 2023.
“It includes the productive activities of transitory crops, permanent crops and livestock activities that take place between the month of August of the year 2020 until the month of August of the year 2023, for the revolving credit lines granted until March 31, 2022”, maintains the Midagri on the category of “agricultural campaign”.
Ministerial Resolution 353-2021-EF / 15, which modifies articles 2 and 18 of the FAE-Agro regulation, approved by Ministerial Resolution 226-2020-EF / 15, provides that said program will be valid for up to 54 months, counted from the signing of the guarantee trust contract.
Said term includes the liquidation term of the state loan program. It should be noted that previously the “agricultural season” was only understood to be the period from July 2020 to August 2021. In addition, it was valid for 30 months, not 54.
The conditions for the delivery of the credits will continue to be borne by the Corporación Financiera de Desarrollo SA (Cofide).
“The allocation of revolving credit lines is made by the FAE-Agro until March 31, 2022 and the credit portfolios can be disbursed after that term, under the terms and conditions established by Cofide, as trustee, provided that the term of the guarantee of the referred subloans only covers payment defaults that occurred up to August 31, 2023 ”, the document refers.
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