World Bank will grant credit for US$50 million to reduce input costs

The Minister of Agriculture and Rural Development, Cecilia López Montaño, confirmed that she is negotiating an emergency credit with the World Bank for US$50 million to support the purchase of inputs for the agricultural sector.

“We are going to look at the experience of the World Bank in Bolivia and in two or three other Latin American countries, where different approaches have been made with these resources, to see what is the best way to guarantee and favor, above all, family farming, but in general to the sector, lowering the cost of inputs”, said the head of the agricultural portfolio.

In addition, it will work hand in hand with the World Bank to effectively apply the resources, with strategies already applied in other countries.

The Minister of Agriculture maintained that this credit is focused on reducing food inflation. “We are very concerned that the supply will be reduced, that affects food security. It is very serious that it is not only a problem of income, but that it is a problem of lack of food supply, that is where we want to have a positive impact so that this does not happen, “he said.

Finally, López assured that this credit already has approval from the Ministry of Finance.