La Nación / They disbursed more than US$ 1,000 million in loans with Fogapy guarantees

Credits for US$ 1,059 million were disbursed with the credit products launched after the COVID-19 pandemic and credits granted through guarantees issued by the Paraguay Guarantee Fund (Fogapy), benefiting 67,739 people and companies.

This is what the Financial Development Agency (AFD) points out in its latest Accountability report as of April 2022, where it mentions that these results were achieved with its products channeled through intermediary financial institutions, among which the Reconversion of Credit Operations stands out. , Proreactivation Program and the Trust for payment of salary and/or operating capital with its product called (Fisalco).

The Reconversion of Credit Operations product is intended for clients of financial entities, whether individuals or legal entities, for the refinancing, restructuring and/or renewal of loans granted for operating capital and/or investments. The term for this product is up to 12 years, including a grace period of up to 2 years. As of the cut-off date, US$ 143 million had been disbursed for 27,671 beneficiaries.

For its part, the Proreactivation Program is intended to provide funding for the credit operations of the client portfolio of financial entities that operate with the AFD for a maximum term of 7 years, including a grace period of up to 1 year. As of the cut-off date, US$98 million had been disbursed, directly benefiting 2,853 people and companies.

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On the other hand, cooperatives, credit houses and central cooperatives that do not operate with the AFD have benefited from resources granted through the Fisalco trust managed by the AFD, through which a total of US$70 million has already been disbursed for some 9,066 people and companies, which has generated or maintained 18,814 jobs directly and indirectly.

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The resources were channeled through 46 cooperatives, 13 credit houses, the Credito Agrícola de Habilitación and 5 central cooperatives to grant loans for payment of salaries and operating capital of their clients.

In another context, the guarantees issued by the Guarantee Fund of Paraguay, it is mentioned that credits for US$747 million were granted to some 28,149 people and companies, which made it possible to generate and maintain 176,156 jobs during the pandemic.

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