100 billion pesos will be allocated by Finagro and Findeter to finance agricultural infrastructure projects

The Fondo para el Financiamiento del Sector Agropecuario (Finagro) and the Financiera de Desarrollo Territorial (Findeter) have approved a $100 billion rediscount quota to promote the financing of productive agricultural infrastructure.

You may read: Subsidies of the Colombia Mayor Program are already being delivered: steps to claim them, last days to go

The rediscount quota is money that Finagro makes available to Findeter for the purpose of supporting the granting of loans to territorial entities. The purpose of this measure is to enable municipalities, districts and departments to promote the development of productive agricultural infrastructure.

According to a Finagro press release, its Board of Directors decided to use the available funds to invest in infrastructure, productive transformation of the countryside and food production.

At the same time, it points out that this financing seeks to promote the decarbonization of agriculture, an aspect that is vital in the global fight against climate change.

According to Ángela María Penagos, president of Finagro, “The transformation begins with improving productivity, moving towards Zero Hunger, achieving the democratization of credit and decarbonizing agriculture”.

This initiative also seeks to contribute to the objectives of transforming agrifood systems set out in the National Development Plan.

How to register for Finagro’s financing credits?

Although the dates for territorial entities to register for the initiative are not yet known, Finagro states that the resources will be granted to mayors’ and governors’ offices that submit a structured project to develop the necessary infrastructure to boost agricultural production.

Once the project is structured, the entities must submit their formal request to Findeter. Findeter will then evaluate the viability of the project.

Projects that have Findeter’s approval will be eligible for financing until the resources are exhausted, Finagro explained. To this he added that Findeter will monitor that the resources are allocated to the execution of the project submitted, in order to ensure compliance with the project.

You may also read: Attention, cargo transporters: from August 23rd the Mandatory Municipal Travel Record must be completed

Alliance for the country’s development

The initiative arose as part of the “Alliance for the country’s development”, whose objective is to promote a new wave of agricultural infrastructure that will benefit the most vulnerable population.

According to Ángela María Penagos, “Findeter has become a new ally of Finagro to transform the Colombian countryside. The Government of Change continues to work to turn Colombia into a world power of life”, Penagos emphasized.

One of the outstanding features of this alliance is the way in which disbursements will be channeled through the rediscount portfolio in order to ensure that the resources reach directly the hands that need them most, Finagro said.

In addition, as part of this collaboration, Findeter will offer free support in structuring agricultural projects to ensure that the resources are used efficiently and that the projects have a lasting and positive impact on local communities.

With this measure, both entities -belonging to Grupo Bicentenario “Sociedad de economía mixta vinculada al Ministerio de Hacienda y Crédito Público”- strive to strengthen access to credit, consolidate new lines to boost the productivity and competitiveness of the territories. Territorial entities interested in credits for the development of agricultural infrastructure can consult more information on Finagro’s official website, contact the national 018000912219 or through the WhatsApp line at 313 889 84 35.

Keep reading: The Bogota Theater and Circus Festival 2023 opens today and it’s free: these are the dates, times and venues