Resolution No. 4 - Creates a Special Line of Credit with a Subsidized Rate for the First Credit of Rural Youth within the framework of the Agro, Secure Income Program (AIS)

The Resolution establishes a Special Line of Credit with a Subsidized Rate for the First Credit of Rural Youth, within the DRE Agro, Secure Income (AIS) Program. This line is aimed at natural persons between 18 and 35 years old with assets that do not exceed 70% of those defined for Small Producers, and who have technical, technological or university training and/or experience in agricultural or rural activities, and who have not had credit with a financial institution. The credits will be used to finance the planting of products from Colombia's basic food basket, such as rice, barley, oats, beans, peas, vegetables, soybeans, bananas, cassava, potatoes, white and yellow corn, sesame, cotton, tobacco, peanuts, wheat, sorghum, achira and fruits, except those with access to the Rural Capitalization Incentive (ICR). This special line includes an interest rate subsidy in favor of the beneficiaries, which will be paid by Finagro to financial intermediaries with resources allocated by the Ministry of Agriculture and Rural Development. The financial conditions of the loans include a maximum interest rate of DTF e.a. plus 5 percentage points, a rediscount rate of DTF e.a. minus 3.5 percentage points, and a subsidy of two effective annual percentage points on capital balances. The credits may have an agreed amortization according to the project's cash flow, with a term according to this flow and up to 100% of the direct costs of the project. The maximum value of the credit per beneficiary will be fifty current legal monthly minimum wages.