He National Institute of Cooperatives (Inacoop) reported that it will make a series of reductions in interest rates to loans in national currency that are granted by the organization.
The president of Inacoop, Martin Fernandezassured this Wednesday that the discounts that will come into force in the coming days will be made for the credits in nominal pesos and in Indexed Units (UI), with the aim of “invigorating the activity” that these types of entities are “experiencing”.
The interest rate for medium-term loans in pesos will decrease from 20% to 18%, while that of short-term loans will go from 16% to 15%.
For its part, the index applied for the UI credits In the medium term it will be reduced from 6% to 5.5%, while in the short term it will remain under the same conditions.
Fernandez explained that these reductions accompany the current situation of the financial market, and were generated after a reduction in the administrative costs of Inacoop in relation to the credits and the low default rate on the part of the cooperatives.
Inacoop seeks to generate “financial leverage” for cooperatives
In this context, the leader maintained that it is “essential to generate financial leverage” on the part of the cooperatives to channel the growth they experience, thus preventing them from requesting private creditsbecause their interests are higher.
The president of Inacoop understands that all entities will benefit from these announcements, since in addition to receiving financial assistance, they will be able to access technical support.
On the other hand, he positively valued the closeness work that the organization is carrying out, something that allowed the restructuring of debts that had been considered lost by the cooperatives. Along these lines, he highlighted Inacoop’s efforts to make these tools known throughout the national territory.
Source: Ambito
