Activation of the Agricultural Solidarity Fund (FONSA) Colombia

The activation of the Agricultural Solidarity Fund (FONSA) is an initiative of the Ministry of Agriculture, which involves an investment of $20,433 million pesos to provide financial relief to small and medium-sized agricultural producers in the regions of La Guajira, Cauca and the coffee sector. This measure seeks to assist farmers who have involuntarily defaulted on their financial debts due to natural disasters, adverse weather events, and the repercussions of the COVID-19 health emergency. The main objective of FONSA is to facilitate the economic reactivation of agricultural debtors through the purchase of overdue loans. A total of $10,433 million has been designated to acquire debts from producers in Rosas (Cauca) and La Guajira, and $10,000 million has been added to specifically support coffee-growing families. The fund will cover up to 12 months of current interest on the principal balance of credit obligations that fell into arrears from November 2022 to April 2024.