New Midagri regulations will cover small agricultural farmers who face total or partial loss of their crops due to natural events.
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The Government has promulgated new regulations for the operation of the Guarantee Fund for the Countryside and Agrarian Insurance (FOGASA), which establishes key provisions for its operation and administration.
This Fund, administered through a trust by COFIDE, is now extended to include forestry activity in its co-financed insurance mechanisms, thus strengthening the protection of commercial investments of agricultural producers.
One of the main novelties is the incorporation of a new purpose for FOGASA: to provide economic subsidies to small agricultural producers who face the total loss of their crops or livestock due to natural, climatic, biological events or other exceptional circumstances that affect their activity. .
This complementary action will be activated after disasters, ensuring assistance to those who have not been covered by the current agricultural insurance mechanisms.
Besides, The new regulations will allow the improvement and creation of agricultural insurance mechanisms for the benefit of producers, adapting to the changing needs of the sector.
It is expected that this measure will contribute significantly to the resilience of small agricultural producers in the face of the various risks they face in their daily activities.
Written and digital press journalist, graduated from the Federico Villarreal National University (UNFV). Currently, in La República, where he writes about economics, with emphasis on hydrocarbons, mining and social conflict.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
