Govt. to issue US$186mn in micro loans
Bnamericas Published: Thursday, March 11, 2004
Colombia's government is looking to issue micro loans totaling 500bn pesos (US$186mn) over the next two years to finance local industry, newspaper El Colombiano quoted housing minister Beatriz Elena Uribe as saying. The initiative forms part of a new micro loan scheme run by development agency Findeter and loan guarantee fund FNG. The government is looking to establish a flexible lending system that can more effectively meet the credit demand of micro enterprises, Uribe said. According to the housing minister, Colombia's government issued mortgage loans totaling 9.8tn pesos as of end-November last year, up 19% compared to the same time 2002.
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