Announce support for textile and footwear in Catamarca and La Rioja

The measures are aimed at these two sectors hit hard by the pandemic and quarantine, applicable in the provinces of northwestern Argentina: Catamarca and La Rioja.

The package includes a promotion regime for $ 520 million pesos to create in the short term about 1,000 jobs and open lines of credit at a subsidized rate, within the framework of the "Economic and Social Agreement."

According to the statement of the portfolio led by Matias Kulfas "with the aim of advancing in a strategic perspective that prioritizes the reactivation and development of the entire national industry, we promote meetings through sector tables, among which the textile, clothing, footwear and leather, among other sectors ".

The credit lines are aimed at micro and small enterprises and cooperatives to develop national productive investment projects supported by the National Fund for Productive Development (FONDEP) and will reach an amount of $ 3.500 million.

The loans will finance up to $ 15 million per project, with a term of up to 7 years, a fixed annual nominal rate in pesos of 18% and may be supported by Mutual Guarantee Societies (SGR) and other guarantee funds.

It will be financed up to 80% of the submitted project, while the remaining 20% will be borne by the applicant.

Those who wish to apply for the loan must have a minimum of 12 months of verifiable sales in one of the following sectors: industry, industrial services, agribusiness, oil and gas, metalworking, TEXTILE and FOOTWEAR, and auto parts, the ministry reported.

The line includes a quota of 20% for enterprises led or owned by women.

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