$927 million in Loans for Panama’s Agricultural Sector

Data from the Superintendency of Banks in Panama (SBP) indicates that the upward trend has continued since the beginning of the year.

For example the Agricultural Development Bank granted in September a total of $19.8 million in new loans to the livestock sector, compared to $15.7 million in 2010.

"However, producers are not happy about the growth of lending to the sector, especially with regards to state banks", reports Panamaamerica.com.pa.

Source: Panamaamerica.com.pa

More on this topic

New Loans for Panamanian Agriculture

November 2009

The Agricultural Development Bank (BDA) will open 4 new loan portfolios in January 2010.

BDA will loan from $10.000 to $20.000, with a 2% interest rate, for buying seeds, irrigation equipment, turbines and building small dams.

Rigoberto Amaya, BDA manager, explained that "in light of adverse weather conditions, we have looked for a way to help small and medium farmers, specially for those who lack economic resources to face these situations", reported Prensa.com.

Honduras: $7 Million for Small Farmers

March 2010

The funds are provided by the UN’s World Food Program (WFP), and will be loaned to small basic grains farmers.

Juan Ártica, vice minister of Agriculture, remarked that the WFP will only loan the money, and each farmer must make the corresponding purchases.

“Additionally, the EU promised more resources for food safety, which would also be disbursed among small farmers”.

Loan Portfolio of Banco Nacional de Panama Increases by 13%

September 2011

At the end of August, the Bank recorded $2,192 million in loans to the private sector, an increase of 13% compared to the same date in 2010.

Of the total, $716 million (33%) were corporate loans, among which are loans to the agricultural sector, amounting to $375 million (17% of total).

Proposal to Support Panama's Agricultural Sector

January 2012

Representatives of the government and producers will submit a proposal containing the necessary tools to boost agricultural production in the country.

A press release from the Legislative Assembly reads:

Members of the Agricultural Affairs Committee of the National Assembly together with producers of rice and other items in Chiriqui and the central provinces, have agreed to form a subcommittee that will collect, within a month, proposals for the development of a document containing the necessary tools to boost agricultural production in the country.