Boost to agriculture: Minister announces 5% credits for producers

The Minister of Agricultural Development and Irrigation (Midagri), Jennifer Contreras, has announced that agricultural producers will be granted loans at interest rates of up to 5%, in an effort to boost the reactivation of agricultural activities in the country. This measure will be carried out thanks to the allocation of resources to the Fund for the Financial Inclusion of Small Agricultural Producers (FIFPPA). During a meeting with the officials of Associativity and Agrobanco, Minister Contreras emphasized her ministry's commitment to benefiting small agricultural producers, seeking to facilitate their access to financing at favorable rates. This initiative is part of the "Plan Unidos" rapid economic reactivation plan, which recently received a transfer of S/ 100 million through Urgency Decree 003-2024. Through FIFPPA, it is expected to offer financing on preferential terms to small producers through Agrobanco, which will help strengthen the agricultural sector in the country. In addition, Minister Contreras also highlighted measures such as the Catastrophic Agricultural Insurance and the Co-financed Agricultural Insurance, which aim to protect farmers against possible losses from natural disasters. On another note, during her participation in the Congressional Oversight Committee, Minister Contreras detailed the actions taken in the agricultural sector in response to the coastal El Niño phenomenon, highlighting the investment of over S/ 118 million in cleaning and dredging various sectors. She also announced a work plan for the operation of own machinery in Lambayeque, benefiting small-scale family farmers in the region. Additionally, information was provided on the state of the intakes and diversion channels managed by the Water User Organizations, noting that the majority are in good condition. In the framework of the "Actions, not words" policy, Minister Contreras reaffirmed the commitment to unblock important irrigation projects nationwide, such as the third stage of Chavimochic, among others. In summary, the measures announced by Midagri aim to strengthen the agricultural sector in the country, providing financial support to small producers and working on the implementation of projects that promote rural development and food security in Peru.