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With the announcement of Reactiva III, The National Society of Industry (SNI) estimates implementation in about 30 days.. According to the president of the institution, the decision of the executive branch has been made.
“We understand that this is already a government decision and only aspects such as the regulation and operation of the program will be missing.”Jesús Salazar Nishi, president of SNI, told management.
The spokesman recalled the meeting with President Pedro Castillowhere the President accepted the SNI’s request and assigned the task to Foreign Trade Minister Roberto Sánchez.
Where does Reactiva III point?
The third version of this program will focus on financing micro, small and medium-sized enterprises (MSMEs) in the industrial sector. With this money, these enterprises will be able to purchase machines, equipment and technologies to improve their production.
“With adequate funding, the goal is to boost MSME equipment purchases so they can equip themselves and increase productivity,” he said.
With this program there is hope to save 200,000 microenterprises from bankruptcywho were unable to recover due to the current economic situation.
What will be the initiative?
Like other Reactivas, this third version includes a budget of SGD 2,000 million, which will go towards loans for up to 10 years and cancellations. interest rates from 2% to 2.5%, The state will also be the guarantor.
The money for these loans will come from unused funds managed by Cofide, which will largely free the treasury from spending. In addition, there will be a flexible filtering scheme.
What about offenses?
Salazar Nishi believed that the delay in repayment of loans taken by companies in Reactiva I and II is understandable due to the economic situation.
Yesterday Foreign Trade Minister Roberto Sanchez confirmed the executive’s assessment of the Reactive III. This program is aimed at stimulating the economy, especially with small companies, not only agro exports, but also the textile industry, the footwear industry, which have not been able to recover due to inflation and economic uncertainty caused by various factors such as the war between Russia and Ukraine, exchange rate changes and political circumstances.
In versions I and II of the Reactiva program, 500,000 companies received loans; although of the total, at least 90% retain debt.
Source: RPP
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.