Nicaragua lacks funds for 2011-12 harvest
May 20 , 2011
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Nicaragua's farming industry will need US$400 million for the 2011-12 harvest but neither the government nor private lenders can provide the capital, website Americaeconomia.com reported. 
Agriculture and Forestry Minister Ariel Bucardo told the website government funds fell short of the requirement, acknowledging a greater availability of resources was needed both from public and private sources.
The story reported government-backed microfinancing was a main agricultural financing vehicle, but available funds were 37.5% lower than last season at US$50 million.
He said banking conditions were 'very complicated' for farmers wanting to access loans, the story reported.
Photo: CentralAmericaData
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