The nine strategies of the banks' 'Abrigo' plan to benefit flood victims
Meeting of banks, through Asobancaria and the Ministry of Finance to launch the 'Abrigo' program. Photo: Courtesy Asobacaria
TL;DR
- 'Abrigo' is an alliance between the Ministry of Finance, Financial Superintendence, and Asobancaria to help those affected by climate emergencies.
- The program offers debt relief, including grace periods of up to 12 months without interest accrual for registered victims.
- Beneficiaries will maintain their credit rating, avoid negative reporting, and have legal collections suspended.
- The banking sector will provide 2.1 million new loans in eight affected departments over 12 months, a 15% increase.
- Emphasis will be placed on productive sectors like tourism, agriculture, and industry, with a 20% growth target for credits in these areas.
- Over 200,000 loans will be supported by National Government instruments, including guarantees from the National Guarantee Fund and rediscount lines from Bancóldex.
- Loans with higher FNG coverage will have interest rates capped at IBR plus 6 percentage points.
- A credit line will be available for organized communities in cooperative or associative schemes linked to regional productive reactivation.
- Asobancaria's president highlighted 'Abrigo' as a successful outcome of dialogue, serving as an alternative to forced investments and paving the way for economic recovery.