Friday , October 18 2019
Home / argentina / The new financing package, the subsidized SME, will be USD 400 million

The new financing package, the subsidized SME, will be USD 400 million



The Government is currently launching a $ 100 billion financing program that will finance subsidized capital and pre-funded SME exports, which will have a cost tax of $ 400 million.

The measures are $ 80,000 million to finance SME equity through the financial system and the capital market. This amount will also be $ 60,000 million, with a daily discount of 120 days, in public banks, 25% last year and private banks, a 29% annual rate.

This financing line will be valid from March 1 to June 30.

In the meantime, SMEs will have a discount of checks$ 20 million in capital markets with the support of insurance companies.

Will be awarded in the "Argentina Exportaciones" project Over 20,000 million dollars to fund SME export budget, up to 5% in annual dollars. Within a period of 365 days and an amount of $ 200,000.

du $ 400 million in interest rate subsidyThe central bank raised a benchmark rate of 50% in a given context, through the national productive development of products managed by the FONDEP production ministry.

The government promotes this funding to support the production sector that is the main creator of work, and believes that the exchange rate has dropped.

In the meantime, due to the low level of activity, the banks concentrated on their customers with the help of the lines, which could not be fully funded in the previous versions. The production will work twice as long as the evaluation process can be seen

Business cameras held the measure. After the announcement made by the Lehendakari Mauricio Macri; The National Production and Labor Minister, Dante Sica; National Insurance Superintendent, Guillermo Plate; and the Secretary of Entrepreneurship and Secretariat, Mariano Mayer, with the heads of companies, SMEs, banks, insurance companies and the heads of the Association of Berme's Association, which set out the scope of the package.

Meanwhile, in order to facilitate financing in the capital market, The National Insurance Superintendent modifies its investment rule. The insurer will increase the minimum investment by approving the certificates and notes approved by the tools related to the financing of SMEs (SGR, investment funds and SMEs, SMEs, etc.) from 3% to 5% of total, depending on your investment portfolio.

The government predicts that the compensation will increase the tax deductions for life and retirement insurance. Understand that saving will be promoted, which will be geared towards real economics to finance SMEs and infrastructure works.

The line presented by Sica and Mayer together with the vice president of Banco Nación, Javier González Fraga, and Banco Provincia, Juan Curutchet, and the Sub-secretariat of Financial Services, Francisco Sosa, at a press conference.

"It is currently appropriate for a period of four months after the stability of the production process"said the president of Banco Nación, Javier González Fraga, he explained, that the line will complement other national streams.

"We believe it is appropriate and economic reuse will be evident in the second quarter of this year," he added.

"Banco Provincia approached $ 30,000 million For the last eight months, the 29% difference in SMEs is different, and we are confident that we must focus on developing the sector's development, especially export-related companies, "he said. Juan CurutchetBanco Provincia president.

The first line to finance the subsidized fare is not, But this version includes 27 banks and a larger number. Since June 2018, this policy has been able to spend 60,000 million dollars nowadays and has benefited more than 45,000 businesses, according to Production Data.


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