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The Legislative Assembly approved, with 57 votes, an amendment to the 2026 Budget Law that will allow the transfer of US$620,000 to the Banco de Fomento Agropecuario (BFA) to strengthen financing for agricultural producers.
The funds come from the General Fund and will be used to strengthen the equity of the Fideicomiso Especial del Sector Agropecuario (FIDEAGRO), as well as to compensate the BFA for the preferential interest rates it applies to loans granted to the livestock sector.
This budget allocation aims to maintain a financing scheme with accessible interest rates, so that agricultural producers can continue to request loans under favorable conditions to develop or strengthen their productive activities.
FIDEAGRO has the BFA as its trustee and was created in 2000 as a financing mechanism for the agricultural sector. Among its functions is managing a loan portfolio and using recovered funds to provide new financing to producers in the country.
The trust also has mechanisms designed to facilitate producers’ access to credit. In march 2022, the Legislative Assembly approved reforms to its legal framework that included the creation of a Guarantee Fund to support agricultural producers and production chains that request financing from the BFA.
At that time, it was established that the Guarantee Fund would have an initial capital of US$3 million, derived from the recovery of FIDEAGRO loans. In addition, it was determined to allocate US$2 million to compensate the BFA for the preferential interest rates applied to loans granted to agricultural producers and their production chains.
The new transfer of US$620,000 will allow for the continuation of this financial support scheme and will help producers maintain access to credit with favorable terms.
With the approved reform, the State seeks to strengthen financing mechanisms for the agricultural sector, facilitating resources that will allow producers to continue their activities and access new investment and growth opportunities.
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