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New tool to boost exporting SMEs business

December 19, 2019. Under Communication A6846, the BCRA Board authorized today a new financing tool in pesos through which banks could finance exports of small- and medium-sized enterprises.

These loans will be granted in pesos and interest will be calculated on the forex change rate plus a spread to be agreed upon by the parties. Exporters will repay these loans with the foreign exchange proceeds from their exports once they are converted into pesos.

In a context where domestic loans in dollars for the exporting sector have declined by USD5.5 billion (35%) in the past four months, the BCRA aims at providing the financial system with a tool so that exporters may recover financing capacity.

 

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