President Fernando Clavijo and the Minister of Agriculture Narvay Quintero, signed this Tuesday an agreement with representatives of the entities Cajamar Caja Rural, Cajasiete, Caixabank and BBVA, to advance funds to the beneficiaries of public aid.
Specifically those foreseen in the Strategic Plan of the Common Agricultural Policy (CAPSP) and in the European Maritime, Fisheries and Aquaculture Fund (EMFAF). It will also serve for the loan of the amounts that must be assumed for the realization of the approved investments.
Under this collaboration, the signatory banking entities commit to provide credit assistance to professionals in the primary sector who are covered by funds from these two European aid programs, which also have funding from the Autonomous Community, in the form of loans to their activity in the agricultural, agri-food or fishing field.
After the signing of the agreement, President Fernando Clavijo stressed that this measure facilitates the advance of funds received by producers from the administrations within the framework of these aid programs, as well as the loan on favorable terms of the amounts that must be assumed to carry out the investments approved and which are the subject of the subsidy.
“In this way, farmers, ranchers and fishermen have greater liquidity in the development of their activity and the banking entities thus contribute to the consolidation of the sector and the improvement of its profitability”, he added.
The agreement contemplates two possible modalities of loan, so that, on the one hand, those who take advantage of this initiative may request the advance of funds once the Ministry of Agriculture, Livestock, Fisheries and Food Sovereignty of the Canarian Executive has issued the corresponding definitive resolution of concession.
There is also the possibility of financing the private part of the approved investment to make available to the beneficiary a percentage of the amount corresponding to the rest of the investment, discounting the amount of the aid granted, and in advance.
All this, in addition, with the "commitment to expedite the deadlines necessary for the granting of the corresponding credit in the shortest term and facilitating the processing of documentation".
