Overview

FINAGRO is a fund which seeks to increase the production and marketing activities of the agricultural and livestock sector. The fund was established on the 22nd of January 1990 as a second-tier bank. It was created due to a necessity in the rural sector for an independent and specialized organization which could concentrate several resources in one fund, rather than having the credit resources dispersed in several organisms as a complementary variant of the political economic of the Colombian Central Bank.

The Government of the time was lead by the President Virgilio Barco. However, The idea of the creation of FINAGRO was a suggestion made by the Minister of Agriculture and Rural Development who presented the idea to the Congress which after a certain time turn it into a national Act.

The Minister Mr. Gabriel Rosas Vega considered that regarding agriculture, it was more important to look at the volume of credit that the State could channel to agriculture, cattler, forest resources and the opportunity to assigned those resources to the different sectors than to focus on the interest rate.

Finagro offers advantages to their clients through different factors such as interest rates, payment methods, credit conditions, grace periods, guarantees, amounts of the loans and an special support which is needed regarding loans to the rural sector. Farming management is part of a State’s policy which implies that the investment in the rural sector has a social and economic impact due to the importance of its contribution to the GDP, employment, internal supplies consumption and exports derived from our great biodiversity.