The Ministry of Economy (Mineco) allocated a fund of Q50 million to finance micro, small and medium-sized companies (MSMEs) linked to the production and marketing of basic basket products, sources from that portfolio reported this Monday, May 11.
Elizabeth Ugalde, Vice Minister of Economy, reported that for this purpose a protection policy was approved for MSMEs related to the basic basket, with the aim of mitigating the impact caused by the increase in fuel prices.
As explained, the program was approved on April 16 by the MSME Council and includes a pilot plan of Q50 million financed through the MSME Fund, without requiring additional resources from the national budget.
The official indicated that the support is aimed at micro, small and medium-sized companies that produce, market, store or distribute food in the basic basket.
The mechanism will work through cooperatives and credit associations, which will receive financing from Mineco with an interest rate of 0%, with the condition of granting loans to beneficiary MSMEs with a preferential rate of 5%.
Ugalde pointed out that these credits will have a term of up to six years and that the policy will have an initial validity of 24 months.
Finally, he stated that the measure seeks to alleviate the costs of food production and distribution, with the purpose of reducing the economic impact for consumers.
“With this we hope to relieve a little the pockets of people who consume products from the basic basket, through the support we are providing them,” said the official.
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