Banco Agrícola (Bagrícola), the Cooperative Credit Institute (Idecoop) and the National Council of Cooperatives (Conacoop) signed an agreement to support the financial and operational strengthening of agricultural cooperatives.
The agreement establishes the conditions to help farmers grouped in cooperatives to channel fresh financial resources, to increase the productivity of their farms, through the Idecoop.
According to the agreement, these resources will be used for the acquisition of equipment and machinery, to improve technical assistance services to producers.
According to the document, the agricultural cooperatives will receive a first loan of 600 million pesos to be paid in the next four years.
The administrator of Bagrícola, Fernando Durán; the president of the Idecoop, Franco de los Santos; and the president of Conacoop, Jorge Eligio Méndez, agreed to facilitate those funds from the zero-rate credit program implemented by the credit institution.
“What we have just signed is a cooperation instrument between three institutions that have the responsibility of promoting the development and well-being of a sector as important as the rural one,” said Durán, administrator of Banco Agrícola.
The activity was attended by the deputy administrators of Banco Agrícola, Gloria Fulcar and Juan Rosario; Rafael Romero, Business Director; Eduardo José Báez, Director of Credits and Hipólito Bazil, Director of Planning and Strategy.
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