CFN will allocate credits to lower imports

The president of the National Finance Corporation (CFN for its Spanish acronym), Maria Soledad Barrera, in an interview with the El Universo newspaper, said the company plans to spend this year $ 250 million in loans to companies that provide investments to replace imports and to promote exports of those that sell goods and services abroad.

Entrepreneurs that may access these loans are those with projects that increase and improve their production towards import substitution. “Those who are directly supporting this will be almost certain to receive long-term resources,” said the official, adding that they seek to encourage projects aimed at changing the production matrix.

Certifications of product quality offered by companies will be a factor to be analyzed in order to provide the resources. Those requiring promotion of exports may also access the resources.

Payment terms will be up to fifteen years with a grace period of up to two and a rate of interest of 6.9% per year.

Maria Soledad Barrera