
Products and services
After of approval, the financial intermediaries ask for the register of the financial operation through electronic way, and FINAGRO disburse the resources the next working date to deliver them to the producers, this means the producer does not do the procedure before FINAGRO, just only before financial intermediary.
FINAGRO offers resources of credit through of the Financial Intermediaries to develop agriculture and rural projects with the best financial conditions.
FINAGRO has the following credit lines to finance all activities regarding with the production, agricultural- industry and support services in the agriculture and rural sector:
Definition: This allows the arrangement of portfolio for the credits which have had difficulties to fulfill with the obligations with the financial intermediaries.
Term: The maximum term is freely agreed, according with the cash flow of the project.
Grace Period: According with the cash flow of the project.
To all producers, natural person or corporate person classified and defined by FINAGRO like small, middle, big producer, rural woman of under incomes and mipymes which develop agriculture and livestock, aquatic, fishing and forest projects and rural activities such as handicrafts, rural tourism and marketing of metals and precious gems. This classification depends on the amount of assets, as you can see next: COP (Colombian pesos).
ASSETS | KIND OF BENEFICIARY |
Until $249.296.052 | Small Producer* |
Until $174.507.236 | Rural woman |
Until $4.389.015.000 | Middle Producer |
Superior to $4.389.015.000 | Big Producer |
Until $26.334.090.000 | Mipymes (It applies for other rural activities) |
In order to receive this benefit, it is necessary that producer has a productive project which must be financed with rediscounted resources in FINAGRO, through of the financial intermediaries that have subscribed “marco” contracts with FINAGRO.
Who can get it?
Smalls and middle producers; cases what are considered in an individual way.
Associative Structures
Corporate those have the participation of small producers in the capital or in the number of capitalist partners minimum 20%.
NOTE: It clarifies that in order to get these benefits, the register of the credit in FINAGRO have to carries out at the dates which exists availability of resources to the accession to ICR.
Procedure: It is necessary to contact to the Agriculture Secretary’s Office of each state and there will be informed about the procedure to access to ICR.
The program delivers subsidies for agriculture and livestock insurance premiums that protects against climate risks. Farmers face risks such as crop failure or livestock mortality when, because of climate change, rainfall patterns shift and extreme events such as floods or drought become more frequent. Agricultural insurance subsidies are key in supporting farmers and governments to reduce the negative financial impact of these adverse natural events.
Risks such as:
• Excess or deficit of rain
• Strong winds
• Floods
• Frost, hail
• Landslides
• Avalanches of climatic origin
• Diseases or pests
What is it?
Agricultural insurance is a risk management tool that allows the agricultural producer to protect his investment against adverse events of nature.
What does it provide?
Through agricultural insurance, the producer guarantees the continuity of the agricultural activity if it is affected by an incident of a climatic nature (excess and deficit of rain, strong winds, etc.) or biological nature (pests or diseases).
How does insurance guarantee the continuity of agricultural activity?
If an event of nature affects the protected area, covered by agricultural insurance, the agricultural producer is entitled to compensation on the insured value. This compensation will depend on the conditions established in the insurance policy for each producer.
Who is it for?
All agricultural producers can access the incentive. All agricultural producers that ensure crops, pastures, livestock, silvopastoral and psychological activities (including shrimp farming), can receive an incentive. Consequently, any agricultural producer who acquires an agricultural insurance policy and complies with the limits established by the National Agricultural Credit Commission for the issue of Agricultural Insurance, and for which there are insurance policies, may have the premium subsidy.
According to the above, the benefit of the incentive will be granted on the value of the premium that corresponds to the insured values within the following limits:
Product Maximum value insured per Ha for the recognition of the incentive:
Short vegetative cycle crops $ 14,000,000
Medium and late yield crops $ 20,000,000
Forest Plantations $ 8,000,000
Crops in controlled environments $ 100,000,000
How to access?
The person must approach one of the insurance entities that currently offer agricultural insurance: Mapfre, Suramericana, La Previsora, Seguros Bolívar and Allianz.
Contacts
Products and Services - Agricultural Insurance
https://www.finagro.com.co/productos-y-servicios/incentivo-seguro-agropecuario
Email: seguroagro@finagro.com.co
Agro line: 01 800 09 12219
Contact Center: +57 1 5953522
For more information on the points of sale, contact the insurance companies that currently provide agricultural insurance directly:
Allianz
Line - Bogotá: (+57) (1) 5600600 - 5600601, Ext. 1378, 1421, 1412
Email: jeisson.donoso@allianz.co
www.allianz.co
La Previsora
Line - Bogotá: (+57) (1) 3487555
Free National Line: 018000910554
From any cell phone dial free: # 345
MAPFRE
Landline - Bogotá: (+57) (1) 6503300 Ext. 1315, 1316, 1364
Free National Line: 018000519991
From any cell phone dial free: # 624
Email: cetorre@mapfre.com.co
morenod@mapfre.com.co
nmcasti@mapfre.com.co
SURA
Line - Medellín: (+57) (4) 4378888, Options 1-1-2
Free National Line: 018000518888
From any cell phone dial free: # 888
Email: suscrip.agro@suramericana.com.co
www.sura.com
The national government, through FINAGRO, supports producers.
Aware of the high degree of exposure to risk in agricultural activities, the National Government provides incentives for agricultural producers to purchase agricultural insurance. In this way, up to 85% of the incentive is granted on the value of the premium- cost of the insurance-.
For example, for every $ 100 pesos of premium, the Government pays up to $ 85 pesos and the producer will only pay $ 20 plus VAT (5%).
Through ARTEMISA, in the link “Operations on line”- Single Forest Window- ARTEMISA, in this section you can do the registration of the Forest Project from March 10th to May 28th, 2014.
Sorts of Forest Projects
It applies to the new business of forest plantations which must be of commercial condition, such as is defined in the Decree 2448 of 2012.
These are all entities which can do financial intermediation in agricultural and livestock credits.
Financial Entities which can intermediate rediscount resources, get the guaranties before FAG, get the incentives or subsidies in the interest rate, given by the National Government are controlled by The Financial Superintendence of Colombia.
The savings cooperatives and credit cooperatives, integral cooperatives, which are controlled by Solidary Economy Superintendence and that are registered in Guarantee Fund for the Cooperatives - FOGACOOP and that fulfill and hold the following indicators, also can do intermediation of the rediscount resources, to get the guaranties before FAG, incentives like ICR:
Liquidity
Liquidity Fund Ratio (Liquidity Fund/ Deposits) >= 10%
Solvency
Solvency Ratio *(1,2) (Pat.Tec / ActPNR) >= 18%
Soundness of the Balance
Structure of Balance (Act.Product / Pas with cost) >= 100%
Without prejudice of the maximum limit for each cooperative, fixed limit by the Board of Directors, to do these operations, FINAGRO and the Cooperatives will be abided by the following limits:
a) FINAGRO will do operations with the Cooperatives until for a maximum percentage equal to 10% of the technical patrimony. This percentage is extended to 20% by decision of the Board of Directors.
b) Each Cooperative can do rediscount operations with FINAGRO until for a maximum percentage equal to 10% of the technical patrimony.
Without prejudice of the previous, FINAGRO keeps in reserve the right to approve or refuse some application to get the rediscount for the Cooperative, and also can stop the rediscount of operations by the fulfillment with the due payment of any of the contracted obligations.
Note: For all purpose under of the present Services Handbook, the savings cooperatives and credit cooperatives, integral cooperatives, which are controlled by Solidary Economy Superintendence and that are registered in Guarantee Fund for the Cooperatives - FOGACOOP, are considered for the Financial Intermediaries and must have a sponsor bank and then do the rediscount operations through of the tool SIOI according with Chapter VI of the present Handbook.
The entities that is going to start operations by first time, have to send the application to the Operations Vice President Department in FINAGRO, attached with a current certificate of existence and legal representation and the Balance Sheet of the last period. Once verified the fulfillment of the requirements and previously the beginning of the operations, the Financial Intermediaries have to subscribe the “Contract Marco for doing operations with FINAGRO”
The credits are given with:
Resources of rediscount, which are identified as rediscount portfolio.
Self-resources of Financial Intermediaries in substitution obligatory investments in TDA (Securities of Agricultural and Livestock Development), identified as substitute portfolio.
Self- resources of the Financial Intermediaries which are not going to be validated as substitute portfolio, but in order to get it, it is necessary to gain access to the guarantees of the FAG or subsidies of rate interest given by National Government according with the current regulations. These credits are identified as agricultural and livestock portfolio.
Know more about the program for associations
FINAGRO promotes a model for associations based on productive connecting, which are included a specific group of producers, marketers and support entities that are looking for the following objectives:
Insurance Commercialization
Technical Assistance
Technological Transformation
The most possibility to get a credit
Increasing of the production
Corporate training
Members and roles
• Identify networks for associations, which fulfill minimum requirements.
• Offer of financial programs and non-financial programs
• Articulation with financial entities
• Monitoring to applications of credit
• Support for corporate training and technical
• Articulation with entities that develop interesting projects for networks for associations.
• Financing
• Licenses
• Research
• Exports
• Training
• Disposal for changes
• Teamwork
• Production
• Providing of advices
• Implementation of Technological packages
• Insurance purchase
• Technical assistance
• Technological transfer
• Aggregate value
• Research
• Economy of scale