From the Boyacá Hall of the Congress of the Republic, Diego Bautista, director of RIMISP Colombia, participated in the public hearing “Agricultural Credit: An Instrument for Social and Economic Development in the Colombian Countryside”, where he explained the main obstacles faced by small and medium-sized producers in accessing rural credit.

In his speech, RIMISP presented key data reflecting the current difficulties of the agricultural financial system:

• Only 11% of the Agricultural Production Units (UPAs) have access to development credit, with 98% of the resources concentrated in the Agrarian Bank.
• Sixty-one percent of credit goes to large producers and short-term financing, leaving small farmers with only 38% access to formal loans.
• Finagro offers low rates, but its complex structure makes it difficult for intermediaries to participate, limiting small producers’ access to financing.

Urgent reform of agricultural credit

Against this backdrop, RIMISP, headed by Diego Bautista, proposed three fundamental actions to guarantee a more equitable and accessible credit:

• Correct the distortions of the substitutive portfolio mechanism, so that it really benefits small producers.
• Align financing strategies with a long-term, sustainable rural development policy.
• Strengthen the role of the National Credit Commission, Finagro and the Agrarian Bank, ensuring that agricultural credit has a real impact on the Colombian countryside.

“If we want a productive and inclusive countryside, we must ensure that agricultural credit is accessible, efficient and equitable,” emphasized Diego Bautista during the hearing.

With this participation, RIMISP reaffirms its commitment to rural development in Colombia, promoting public policies that generate fair conditions for producers and contribute to the sustainable growth of the agricultural sector.

Translation by: Alexandra Kerangal Macé