MILAN – The Nicaraguan Ministry of Finance has announced that $20 million will be made available for lending to the sector, with priority being given in the first stage to producers with planted areas measuring between 3 and 20 fields (from 2.1 to 14 hectares). According to local media, the measure will benefit about 16,000 middle and small growers.
The National Commission for Transformation and Development of Coffee Plantations (Conatradec) announced that funding will be for up to 7 or 8 years, with a three year grace period, at an interest rate which will be discussed next week, along with the financing plan for coffee growers.
The funding will come from a loan of the private banks.
The purpose of such financial injection is to finance the rehabilitation and renovation of coffee plantations.
Coffee is still Nicaragua’s second export item accounting for US$393 million or 15.5 percent of total export revenues in 2015.
