24hoursworld

The modification in rate, quotas and terms of financing is official

The modification in rate, quotas and terms of financing is official

The objective of the standard is to inform about the modifications to the Financing Line for Productive Investment of MSMEs.

Reuters

He central bank (BCRA) reported through the Communication “A” 7983/2024, published this Monday in the Official Gazetteon the new provisions related with financing aimed at Micro, Small and Medium Enterprises (MSMEs) and reducing the minimum cash requirement.

As mentioned in the official text, The objective of the standard is to inform about the modifications to the Financing Line for Productive Investment of MSMEswhich will be implemented starting April 1 of this year.

Main changes

  • A new “Minimum MSME Quota” is created that financial entities must comply with in order to access the reduction in the minimum cash requirement.
  • The Minimum MSME Quota establishes that financial entities must allocate at least 7.5% of their non-financial private sector deposits in pesos to finance investment projects and working capital of MSMEs.
  • The percentage reduction in the minimum cash requirement for financing to MSMEs is modified:
  • 40% for financing with an average term equal to or greater than 36 months.
  • 30% for financing with an average term of less than 36 months.

New requirements are established for financing that is counted towards the reduction of the minimum cash requirement.

  • The implementation schedule of the measures is modified.

According to the Communication, these new regulations seek to promote financing for MSMEs and facilitate access to credit, while encouraging the reduction of the minimum cash requirement for financial entities that meet the requirements and established conditions.

Likewise, financing to MSMEs is excluded from the calculation of the Minimum MSME Quota. with agricultural activity that are dedicated to the collection of wheat and/or soybeansor to the production of cereals and/or oilseeds and that financial entities must inform the Central Bank about compliance with the Minimum MSME Quota.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts