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Disbursements Amount to 75% of Credits Approved for MSMEs

Financial institutions have already disbursed 75% of the credits approved for micro-, small- and medium-sized enterprises (MSMEs).

The financial system has granted credits for ARS102.148 billion under a special line launched by the BCRA at a maximum annual interest rate of 24%. The amount disbursed so far is ARS75.968 billion.

Disbursements made this week have virtually tripled from last week.

In turn, the Argentine Guarantee Fund (Fondo de Garantías Argentino, FOGAR) has provided sureties for financial institutions to give loans for ARS91.92 billion channeled as follows: 36.6% to state-run banks, 41.2% to domestically-owned banks, and 22.2% to foreign-owned banks.

Out of the amount disbursed, ARS3.295 billion were channeled to health services providers covered by the effective regulation, irrespective of their size and within the framework of the COVID-19 national prevention policy.

The credit line for MSMEs endorsed by the BCRA amounts at least to 220 billion pesos.

This credit line became effective on March 20.

Buenos Aires, April 17, 2020.

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