13 May 2020 – President presents Plan Panamá Agro Solidario to support national producers

Type of Intervention: Financial and Economic
Sectors Involved: Private Sector and Businesses
Level of Jurisdiction: National
Lead People/Agency: The Agricultural Development Bank (leading)
National Bank of Panama (leading)
Minsitry of Agriculture and Agricultural Cooperatives among others (implementing)

Overview: The presidency announced the first phase of the Panama Agro Solidarity Plan, which includes 10 concrete actions aimed at supporting this important sector of the national economy.
The Agricultural Development Bank will also provide reconversion loans for agro-exporters of rice, beans and corn of up to US$ 100,000 at 0% interest, which will be contemplated for harvests 2020-2021 and 2021-2022.
The Plan contains ten actions that comprise this first phase of the Panama Solidarity Plan, which take place between 2020 and 2022.
This Plan includes two programs: Panama Agro Solidario, aimed at producers throughout the country and Agro Vida, aimed at subsistence producers.
The “Agro Vida” family farming program seeks to provide tools, basic grain seeds and supplies so that they can plant and guarantee the food security of their families, affected by the Pandemic.
he allocated budget of US $. 150 million for the support of small producers and another US $ .150 million for Small and Medium Enterprises (SMEs), money to be managed by the National Bank of Panama and the Bank for Agricultural Development.
Full details here: https://www.presidencia.gob.pa/Noticias/Ejecutivo-anuncia-Plan-Agro-Solidario-para-garantizar-seguridad-alimentaria

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Type of Justification: No justification given