Peru’s Agricultural Bank to approve credits worth US $30 million

Isabel Guerra

Peru’s Banco Agropecuario (Agricultural Bank) informed that it is planning to approve credits worth S/. 120 million (almost US $ 30 million) to producers based in Andean Highlands areas.

Its General Manager, Luis Palomino, said that loans approved last year for local producers in these areas ranged between S/.70 million and S/.80 million, and an growth is expected this year.

Asimismo, destacó que el nivel de morosidad de las colocaciones en general se ubicó en 2.5% el año pasado, nivel mínimo que refleja la rigurosa evaluación que se realiza para la aprobación de un crédito para los agricultores.

Palomino also announced that Agrobanco will launch this year some new products intended especially for producers of oil palm and coffee, and will also continue approving credits for producers of potato, quinoa, livestock, alpacas and vicuñas.

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