International Business Program

Managers Association of Financial Institutions for Rural Development (rural Fin), Nestor Castro, said financial institutions in these sectors are prepared for September this year, 180 million dollars in credit in areas without traditional banking and interest rate of 10 to 20 percent.

“Currently, they have reached a level that is almost $ 180,000,000 portfolio (until August and September this year), serves more than 350,000 customers, primarily in rural and suburban areas in the country, and we should have a presence in all nine departments with partners to rural Fin. The level of arrears that we have is below 1.5 percent, “said Castro told the news agency Fides.

He said that interest rates applied depending on the type of customer, and the percentage can vary between 10 and 20 percent, so the credit of interest and easily accessible.

Castro explained that the company which is affiliated to provide rural credit Fin with money earned abroad in an interest rate around 10 percent, from banks and international institutions and that is why interest rates higher.

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