CHIHUAHUA – Chihuahua announced the Drought Fund, a program that contemplates a purse of 30 million pesos to provide financing to rural producers, who were affected by the ravages caused by the water shortage in the Chihuahua countryside.
This scheme offers credits ranging from 125,000 to 250,000 pesos, and will be operated by the Secretariat of Rural Development (SDR) and the State Trust for the Promotion of Productive Activities in the State of Chihuahua (Fideapech), of the Secretariat of Innovation and Economic Development (SIDE).
The beneficiaries may use the funds to hire working capital for livestock management or to purchase equipment for the sustainable use of water.
These loans have a fixed annual interest rate of 5 percent, with a pledge or mortgage guarantee.
In explaining the details of this financing scheme, the head of SIDE, María Angélica Granados Trespalacios, emphasized that the joint work between the two agencies will help producers to maintain their operations, preserve employment, contribute to the well-being of the agricultural and livestock sector, and promote the economic development of the region.
Mauro Parada, Chihuahua’s Secretary of Rural Development, mentioned that the essence of the program is to provide liquidity to producers in a simple way, so that they can meet the needs resulting from the drought more quickly.
Also present during the announcement of this Fund were Roberto Martínez, director of Fideapech; Arturo González, president of the Chihuahua State Agricultural Council; Saúl Mireles, local congressman; and Juan Carlos Flores, head of the SDR’s Livestock Department.
