Nicaragua: Financing Available for Agriculture
Nicaragua, September, 05 2014 -
Microfinance officials have announced that $55 million will be granted in loans to businesses in the agricultural sector.
Representatives from the Nicaraguan Association of Microfinance Institutions said they hope to focus resources on the areas that have been most affected by the El Niño climate phenomenon.
Julio Flores, General Manager of the Local Development Fund, told Elnuevodiario.com.ni that "... This year we hope to attend to between 40 and 50 thousand producers, especially in humid areas where there is production."
"... The agricultural sector continues to suffer a 'drought' in funding from the National Financial System (SFN by its initials in Spanish). And the fact is, last June only a 5% annual growth was reported in lending to the agricultural sector, contrary to the growth of the same period last year when the figure was 25%. "