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Grupo Aval defines its action plan for reactivation

Grupo Aval defines its action plan for reactivation
Grupo Aval defines its action plan for reactivation

The Aval Group* said it is committed to the reactivation of the Colombian economy. To achieve this, The coordinated work of the public and private sectors is key.

(Read more: Will interest rates continue to fall after rising inflation in the country?)

Therefore, he announced that the action plan at the working tables with the National Government and the financial system focuses on initiatives that, through subsidiaries, “generate sustainable growth and employment; specifically, in housing financing, SMEs, the popular economy, energy transition and agriculture, putting Colombians, their families, their businesses and prosperity at the center.”

And to move the real estate market “and to support more families in acquiring their homes, Aval banks will, starting today, offer housing financing with interest rates from 9.5% EA for housing leasing and from 10% EA for mortgage loans, with these rates promoting the issuance of new loans and the purchase of portfolios.”

He assured that as regards the popular economy, “We will continue to provide access to credit to segments that have traditionally had more difficulty obtaining financing. Banco Popular will support pensioners with incomes between 1 and 2 SMMLV for entrepreneurship and productive projects, through payroll loans with rates significantly lower than the current rates for this product (up to 20% lower).” The credit offer is strengthened with the new PoSIble credit card designed for people over 50 years of age with incomes of at least one legal monthly minimum wage, offering them an alternative to informal loans with high rates.

To stimulate production and growth of the industrial sector and small and medium-sized enterprises, he said that “Participation will increase with disbursements of close to $6 billion in the rediscount credit and guarantee programs of the FNG, Finagro, Bancoldex and other entities of the Bicentenario Group.”

(Read more: Economic reactivation: these are the first proposals of the Petro government)

Maria Lorena Gutierrez, president of the Aval Group

Private file

(More news: ‘Forced investments must be agreed, not obligated’: more criticism of the proposal)

He announced that participation will increase as the Government increases rediscount resources in strategic sectors for recovery. And they will continue to provide loans to SMEs to stimulate production and economic growth.

“In 2024, we are committed to disbursing around $12 billion in loans to SMEs, women-led companies, exporting companies, leasing to finance the acquisition of productive assets, for small agricultural producers with agro-factoring and the Finagro integration scheme. Grupo Aval’s commitment to economic recovery goes beyond rates”announced Maria Lorena Gutierrez, president of Grupo Aval.

The entity, with its subsidiaries, is supporting the energy transition by financing projects in renewable energy, energy efficiency and sustainable transport, with a green portfolio at preferential rates that will reach $8 trillion in 2025.

So far this year, Promigás has financed more than 40 companies in its transformation towards renewable energy.

Likewise, Corficolombiana will invest $2 billion during 2024 in priority sectors that drive economic growth: infrastructure, gas, agroindustry and tourism50% more than in 2023. This figure is even more relevant when compared to the decrease in national investment. For its part, Porvenir will direct more than $7 billion from the managed funds towards profitable objectives that strengthen the country’s productive fabric.

(Read more: Petro’s request to Uribe supporters to support his economic recovery plan)


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