The Bank has secured an IDCSA line of Credit to the tune of US$30 million for support to the agriculture sector. The IDCSA Board Investment Committee met this morning and approved the Facility, which is favorably priced at Libor +8.9%.
The potential beneficiaries of the facility include:
The Bank is most grateful for the support from IDCSA, which should assist recovery in the agricultural sector. IDCSA has always supported Agribank since 2011 when they disbursed two facilities each US$30 million in 2011 and 2012, as the economy was coming out of hyperinflation.
Once again, this assistance will help provide much needed foreign exchange in support of the productive sectors, as the economic recovery gathers pace.