Farming sector leaders get $2.3B in loans to tackle drought

Agriculture Minister Norberto Yauhar promised farming sector leaders loans for 2.3 billion pesos after today’s a third meeting with the Agricultural Emergency Committee in which participants discussed the next steps on regards the current drought that affects a large portion of the country.

The meeting started at 11am and extended for almost four hours at the Agriculture Ministry. It was attended by Argentine Agrarian Federation (FAA) boss Eduardo Buzzi; Argentine Rural Society (SRA) head Hugo Biolcati; Coninagro’s Carlos Garetto; and Rubén Ferrero from Argentine Rural Confederations (CRA).

Afterwards, Garetto told reporters to be «satisfied» with the meeting as the farming sector leaders were promised with more round talks intended to resolve the drought crisis that yesterday took another victim as La Rioja province declared itself under agricultural emergency and disaster emergency.

Asked if any progress was made the head of Coninagro was more than positive «We leave with a 1.5 billion pesos loan coming from the Banco Nación, to be used nationwide, and an 800 million pesos loan extended by the Banco Provincia to be used at the Buenos Aires province only.»

Thus, fresh money comes in addition to the 500 milion pesos loan that Yauhar had already granted as part of the Agricultural Emergency fund.

In addition, FAA’s head Buzzi echoed the speech given by President Cristina Fernández de Kirchner after her thyroid surgery, and claimed «The current drought is affecting many provinces of our country. It’s a serious thing. Yesterday we all saw how concerned the President is about the Malvinas Islands. I think she should also worry about the crisis the farming sector is going through.»

Officials from the Economy Ministry, Interior Ministry, AFIP tax agency, National Institute for Agriculturual Technology (INTA), National Wheather Forecast Service, Banco Nación, and Central Bank, were also part of the meeting.

Likewise, Representatives of the governments of Buenos Aires, Entre Ríos, San Juan, Córdoba and Santa Fe provinces were also part of the meeting.

Source: Buenos Aires Herald