Peruvian agriculture development bank Banco Agropecuario, or Agrobanco, affirmed Peru has made progress in social inclusion last year as it facilitated the entry of 19,843 producers into the financial system.
Agrobanco’s President Enrique Diaz said the bank ended the year having served 85,555 producers and with a loan portfolio of S/.1.6 billion (over US$543 million), which accounted for 72,000 producers in the highlands and rainforest of Peru.
Of this figure, 34,220 live in areas of extreme poverty, 13,338 in high Andean zones (2,500 meters above sea level), 2,326 in native communities and 4,550 in farming villages.
Diaz continued to add Agrobanco finances a portfolio of 149 products, among which novel and native crops are of most importance.
Such products include chia, sacha inchi, sesame, camu camu, aguaymanto, blueberries, tara, organic banana, avocado, quinua, vine, cotton, among other profitable products.
The integration of new clients into the formal system speaks of the effort made by Agrobanco throughout its 80 offices across the nation, as well as the financing of crop diversification projects.
Agrobanco is Peru's main development tool for the agricultural sector. This segment has rapidly grown in the past few years and has become exporter of selected products.
However, poverty is concentrated in rural areas where agriculture is the main activity, hence the government's interest in promoting its development and improving the sector's access to funding.
(END) JJN/JJN/RMB
Published: 1/24/2015