On Thursday, May 30, the Minister of Cooperatives and Mutuals of Córdoba, Martín Gill, and his Government counterpart, Manuel Calvo, presented the Cooperative Financing program in the town of Oncativo.
The initiative seeks to accompany the development of social economy organizations, granting credits for up to 100% of the value of infrastructure works, energy efficiency, acquisition of machinery, technological projects and working capital.
This program was launched based on the joint work that the Government of Córdoba has been carrying out with the entities grouped in the Face Córdoba and Fecescor federations, which play a key role in the provision of public and social services in localities in the interior of the province, providing more progress, production and opportunities for communities.
Mutual accompaniment
“Those of us who come from the deep interior and know the importance of the mutualist and cooperative system, know the importance of what we are expressing today, which will surely be a historical fact.”Calvo highlighted.
In addition, the Government Minister stressed that it will have a direct impact on the quality of life of the neighbors. “Now we have the necessary tools through public banking, which is Banco de Córdoba, to get to work and provide a better quality of service provision to our neighbors.”, he indicated.
In the same sense, Gill highlighted: “The program is a tool of the State, by decision of Governor Martín Llaryora, so that in every corner of the province we can be carrying out works, generating work, improving conditions for our neighbors and causing, in the midst of difficulty, Córdoba to redouble its bet and go for more”.
Financing program
The lines of credit will be allocated to cooperatives that request them to carry out infrastructure works, such as water and sewer connections, pavement, fiber optics for connectivity, gas networks, among others. Also to finance working capital needs and purchase road machinery, trucks or automobiles.
The amount granted will be up to 100% of the value of the project (VAT included), depending on the entity’s credit rating, and will be returned within a period of 12 to 60 installments, with 3 and 12 month grace periods. In addition, to make it more accessible, it will have a Fixed Annual Nominal Rate of between 25% and 32%, depending on the line.
Likewise, the agreement that gives rise to the program grants the possibility of accessing financing for gas works, energy efficiency and new technologies through provincial initiatives articulated with Bancor, such as Dale GAS, Dale ECO and Córdoba 4.0.
For these cases, the amounts also reach up to 100% of the value of the project, with a term of 60 installments, with 12 months of grace and with a rate of 22%.
The president of the Bank of Córdoba, Raúl Paolasso, highlighted: “These credits, in addition to contributing to incorporating basic infrastructure into municipalities and communes, seek to boost the economy, sustaining and strengthening the activity of the province.”.
Accompanying the launch event were the mayor of Oncativo, Nicolás Filoni; the president of Face Córdoba, Omar Marro; the president of Fecescor, Luis Castillo; provincial legislators Matías Chamorro and Lucas Germán Valiente; and authorities of the Social Economy, Cooperatives and Mutual Commission of the Legislature of Córdoba.
On Thursday, June 13, the Cooperative and Mutual Advisory Council met in the Parliamentary Work Room of the Legislature of Córdoba. The meeting was led by the secretary of Planning and Territorial Articulation of the provincial Ministry of Cooperatives and Mutuals, Gabriel Alberto Frizza, who was accompanied by the secretary of Infrastructure of the same portfolio, José Ferrero.
Legislator Matías Chamorro, president of the Commission of Cooperatives, Mutuals and Organizations of the Social Economy of the unicameral Córdoba, also had an active participation.
It was the second time this year that the inter-institutional body, created by provincial law 7,734, met with the objective of channeling the proposals of the associative entities.
The Cooperative and Mutual Advisory Council is made up of seven second-level institutions, representative of social economy organizations: the Federation of Argentine Housing and Consumer Cooperatives (Fecarvyc), the Federation of Mutual Associations of Córdoba (Femucor), the Association of Argentine Cooperatives (ACA), the Argentine Federation of Electricity Cooperatives (Face Córdoba), the Institute for the Financing of Work Cooperatives (Ificotra), the Federation of Electrical and Public Works and Services Cooperatives of Córdoba (Fecescor) and the Federation of Federated Cooperatives (Fecofe).
Diverse agenda
Among several topics addressed, the treatment of the Financing program for Cooperatives of the Bank of Córdoba, which was presented in the city of Oncativo recently, stood out.
In addition, the scope of the Program for the Implementation of the Provincial Fund for Education and Development of the Cooperative and Mutual Sector was analyzed, with an evaluation of the status of projects presented to date.
Finally, issues related to the internal regulations of the council, the officialization of roles for functional purposes and the first service sustainability projects in the provincial interior were discussed.
