The Official Credit Institute, ICO, injects billion euros the food industry.

THE CREDITS WILL BE GRANTED AT A PREFERENTIAL INTEREST RATE.

The Ministry of the Environment and Rural and Marine Environment has developed a support plan to overcome the current situation in the activity that affects the agricultural and food sectors.. The Administration will open a line of subsidized loans through the Official Credit Institute (ICO) for an amount of up to 1.000 million euros.

These loans will be granted at a preferential interest rate and will also have a subsidy from the ministry.. The aid will allow the rates to be reduced by a quarter of a point for agricultural companies and half a point for food companies and associative entities.. Agriculture has 1,5 million euros to make loans cheaper.

The Secretary of State for the Environment, Josep Puxeu, He pointed out that one of the main problems that the sector is currently facing is the lack of working capital..

With the injection of the ICO it is intended to make available to agricultural holdings, cooperatives and agri-food companies, funds for the normal development of its activity. In official media it is considered that although it is important to have cheap money, The problem for both sectors is the difficulty in obtaining loans from financial institutions., in the face of the current credit shortage.