The team of the Bank for Investment and Foreign Trade (Bice) met this Friday with more than 100 Cordovan businessmen called by the Industrial Union of Córdoba (UIC) to explain the bank’s help lines and hear how the measures are reaching the province financial assistance provided by the national government in the framework of the health emergency.
The meeting led by José Ignacio de Mendiguren was held via videoconference and convened companies from all the productive sectors of the province, who expressed their concerns about how to access the financing lines.
The president of the UIC, Marcelo Uribarren, explained the different situations that companies in the province experience, according to the level of activity they have in the pandemic. In all cases, he said, the payment chain is badly damaged. According to a UIC survey, 35% of partner companies are not producing.
The general manager of Bice, Gabriel Vienni, explained the instruments that the bank presented to assist in the emergency, including the working capital line at a rate of 19%, a 12-month term and up to six months grace. And he also told how the Guarantee Fund (FoGar) of 30,000 million pesos that the Ministry of Productive Development contributed to guarantee loans of 120,000 million pesos for working capital at a rate of up to 24%.
The work meeting was used by the businessmen to tell their realities and the difficulties they faced or are facing to materialize the assistance of the national government in terms of credits for production. 55.8% of industrialists in Córdoba said in the entity’s survey that they had access to loans for the emergency.
Mendiguren also highlighted that beyond being strongly impacted by the crisis, like all businessmen in the country, he heard from Cordoba industrialists a vocation to see beyond and think the day after the pandemic.
“Although overwhelmed like everyone else, I noticed in the industrialists a willingness to start thinking about what our concrete action as a bank and as a government will be to promote a recovery that will put the country on its feet and on the road to development,” said the president of Bice. . “Having a development project is a political decision, and this government has it.”
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