Soft loans in support of food security

In order to achieve the goal of guaranteeing food security, as part of these efforts, the Banco de Fomento Agropecuario (BFA) has placed more than $10 million in loans at subsidized rates of 4% per annum. From May 17 to July 2, 2022, $10,250,000 USD have been delivered in 4,614 credits to an equal number of small agricultural producers in the areas of basic grains, vegetables, fruit, livestock and minor species, confirmed the financial institution. Preferential rates range between 4 and 5 percent per annum, thanks to funds from the Special Trust Fund for the Agricultural Sector (FIDEAGRO), which provides up to $5,000 in soft loans for each farmer. This type of financing is a support to help boost domestic food production and alleviate international inflation, derived from the increase in international oil prices and, as a direct cause, the conflict between Russia and Ukraine.