MCA-Honduras Trust Fund continues supporting the country's farmers



Tegucigalpa. - Up to December 2010, MCA – Honduras has provided more than 104.8 million lempiras for loans through BAC / Honduras, equivalent to 93 percent of the total funds available (which is 113.4 million lempiras), to support domestic producers.

BAC / Honduras is the institution that has been responsible for managing the MCA-Honduras Agricultural Credit Access Trust Fund since October 2007, helping to create new financial products among intermediaries, which to date have given access to 3,315 farmers, most of whom had had no access to formal credit.

Through this Trust Fund, 8.5 million lempiras will be placed by 2011, equivalent to seven percent of the total funds financed. The financial banking and non-banking institutions or potential clients for placing these funds are Del Campo Soluciones Agrícolas, FUNED, FACACH and its member cooperatives, AGROVETSA, and the PILARH Association.

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By 2011 and through the MCA - Honduras Trust Fund, 8.5 million lempiras will be placed in loans.

Up to December 2010, MCA-Honduras has placed through BAC/Honduras, more than 104.8 million lempiras in loans.

3.315 farmers from 15 departments have had access to loans from the MCA - Honduras Trust Fund.

Even though financial intermediaries are distributed in 15 of Honduras’s 18 departments, 73% of total loans granted are concentrated in the department of Intibucá, with more than two thousand farmers benefitted in that area. These producers in turn absorb a little more than 54% of funds disbursed, resulting in an important contribution to this department whose main source of income is agriculture. MCA continues to generate funding for economic growth in Honduras.

 


2009. Millenium Challenge Account. Tegucigalpa, Honduras.

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