Wednesday, August 17

Assembly approves giving greater added value to the Productive Promotion Certificate for agribusiness

The National Assembly of Panama approved in a third debate to give greater added value of the Productive Development Certificate (CFP), of Financial Assistance and line of loans, to be used in all types of purchase and commercial transaction, for the benefit of agroindustrial companies, reported a statement from the Legislative Branch.

It supports project 718, which modifies Law 105 of November 21, 2013, which creates the Program for the Promotion and Modernization of Agriculture and Agriculture, which puts another financial relief mechanism in the hands of the primary sector, focusing on said sector, greatly affected by Covid 19.

In order to mitigate the losses caused to natural and legal persons in the agricultural and agro-industrial sector, It recognizes the applications of the CFP presented and received in the Ministry of Agricultural Development (MIDA), corresponding to the productions made in the years 2016, 2017 and 2018, which are in process, the values ​​for the items of melon, watermelon , pineapple and pumpkin or pumpkin.

The president of the Agricultural Affairs Commission, Julio Mendoza, He affirmed of the aggravating crisis facing the Panamanian agribusiness, that its activity is reduced, but that it will have an economic respite to reinvent itself.

One of those great benefits explains the deputy, is that the Certifica can be used by its holder to make payments of all kinds, be it bank loans and financial entities, be they public or private.

Equally, It can be used in all types of purchases, whether they are supplies, real and personal property and all types of commercial transactions, with the public and private sector, including endorsement to third parties.

It is provided that The Certificate is a Document issued by the Ministry of Agricultural Development, signed by the General Directorate of Income, to make disbursements for direct financial assistance to meet the objectives of promoting agricultural and agro-industrial activity.