Farmers Access to Credit (FACA)
Farmers Access to Credit Activity (MCA-H/FACA) consists of three sub-activities:
- Technical Assistance to Intermediate Financial Entities (TAIF)
- Implementation of the Real Estate Guarantees
- Agricultural Credit Trust
The Millenium Challenge Account - Honduras signed a contract with ACDI/VOCA to provide Technical Assistance services to Intermediate Financial Entities for a period of 38 months starting May 2007
Under the contract ACDI/VOCA will assist the Intermediate Financial Entities to strengthen their ability so that in a sound and profitably manner they are able to approve agricultural credits.
The firm provides training to ensure the understanding of credit officers on cash flows, business management, credit analysis and marketing of financial products. It focuses on developing new credit products that are affordable to agriculture and rural borrowers by enhancing their capacity to assess market needs and demand as well as the potential for strategic partnerships with other rural actors.
The Millenium Challenge Account - Honduras signed a contract with The National Law Center for Inter-American Free Trade in August 2007. The Real Estate Guarantee Law, pending for approval in the National Congress, will strengthen the provision of real estate guarantees not yet used in Honduras and will facilitate access to financing by small and medium producers.
The third MCA/FACA sub-activity is a US $6 million fund, administered in trust by BAC|BAMER bank through a contract signed in December 2007 and intended to support horticulture farmers participating in the Farmers Training and Development program (MCA-H/EDA); other growers and businesses related to the horticultural chain.
Consulting Services for the Implementation of the Honduran Secured Transactions Law