Argentina unveils $46m credit agricultural producers

Argentine Ministry of Agriculture, Livestock and Fishing on Monday unveiled a 400 million-peso (46 million U.S. dollars) line of credit for small and medium-sized producers.
"The credit line is designed to finance various fixed investments, such as constructing or expanding facilities or infrastructure, acquiring agricultural machinery ... planting crops ... and fulfilling working capital needs in general," the ministry said in a press release.
The measure aims to "strengthen smaller producers, and at the same time reduce the cost of credit and improve access to financing," the ministry added.
Loans for investments can be repaid over a period of seven years, and include an initial one-year grace period, while loans for working capital and expenses can be repaid over 18 months, with a six-month grace period.
"In this way, we are following up our traditional Rural Change Program with new opportunities for (financial) support for" smaller scale producers, the ministry said.
The federal program aiming to help promote small and medium-sized producers was created in 1993.

Argentine