The president of the bank assured that its objective is to accompany producers “through thick and thin.”
The president of Bank of the Eastern Republic of Uruguay (BROU), Salvador Ferrermade a compilation of the essential role that the banking and financial entity has in the agricultural sector, where he highlighted the increase in credits granted and the National Guarantee System (SiGa) as a key tool for agricultural recovery last year during one of the worst droughts in the history of the Uruguay.
“It seems to me that it is worth referring to what has been the expansive behavior of Banco País’ credit, and with that dragging down the competition, why it is valid to recognize that we are in a very competitive market and that credit in general has expanded, surely led by what we have done since the BROU”, Ferrer assured.
In that sense, he highlighted the importance of BROU He is with the producer “in good times and in bad” referring to the promising scenario caused by the large amounts of water that fell on the fields in recent days, in contrast to the drought suffered last year.
Increased credit capacity
On the other hand, he recalled that the agricultural sector It was found stagnant at the credit level in the order of 2.4 billion dollars. “Today we are at 3.6 billion dollars: it is a 50% increase. Only in 2023 will the increase in credit to agricultural sector It was 20%,” he celebrated.
In addition, he highlighted the wide variety of types of financing offered by the BROU for agriculture. “There is everything from working capital to long-term investments for irrigation, water and even field purchases, which was something that greatly energized the sector with terms of 15, 20 or even 30 years for micro-producers,” he explained.
SiGa SMEs, a key tool
In addition to celebrating the increase in credit capacity provided to producers, Ferrer also highlighted the National Guarantee System (SiGa) as a key tool for agricultural recovery. “A guarantee instrument that was promoted by the government during the pandemic and has been in the successive emergencies that we have faced, a very important tool for the support and expansion of credit,” he commented.
With this, he added that in the last year a total of 150 million dollars arrived to small and medium-sized agricultural companies, of which 50% has been from the hand of the BROU. “I think the instrument itself is very remarkable, and along those lines I think we have to work on making the FOLLOW continue to be available for normal times,” he assured.
Source: Ambito
