the government is in agreement with the banks to preserve the payment chain

The Department of Production announced Tuesday an agreement with 12 banks for the delivery of checks of up to 90 days to SMEs, at the rate of 29%, for a total of $ 26,000 million .

The announcement was made by the Minister of Production, Dante Sica who based the measure on the need to " accompany SMEs at this stage " [19659004] "We will put all the tools of the state to be with them in this way so that they are more competitive and funding is the key to this challenge," he said. said the minister

Sica stressed that "the contribution of state-owned banks to help SMEs to fund their working capital at competitive rates and, therefore, to strengthen the payment chain ]

The Minister emphasized that the announcement is in line with the budgetary objectives established by the Ministry of Finance, in the framework of the agreement with the International Monetary Fund. [19659003] According to the agreement, the banks will give their SME customers a rate br ut maximum of 32% and the Ministry of Production will refund 3 percentage points, so that the net will be 29% according to this portfolio.

The President of Banco Ciudad Javier ] Ortiz Batalla, noted that "the joint work with the Ministry of Production allows us to provide affordable financing to SMEs successfully improving the payment chain with a significant reduction in the interest rate, which in our case will be 28% TNA for Working Capital, through the line of reduction of deferred payment checks. "

Ortiz Batalla also said that the suppliers of the city of Buenos Aires "will have a premium in addition, leaving the rate at 27%, benefiting a large number of companies dedicated to the execution of public works and the services in the city. "

" The agreements we established with Reciprocal Guarantee Firms ] allow us to deepen the financial inclusion of microenterprises ] "added the head of Banco Ciudad

The president of the president of Banco de Córdoba, Daniel Tillard declared that the agreement BANCOR was awarded 10% of the national quota. "

" These 2500 million credits that the bank will allow us to support the MiPymes cordobesas ] on the other hand, we will extend our solution Digital Factoring. "

The banks participating in the agreement are Nation of the Province of Buenos Aires, Bank City of Córdoba, ] Rioja of The Pampas of Santa Fe, of Between Ríos of Corrientes, Tierra del Fuego, Banco de Neuquén and the private bank Credicoop .