“In its 21 years of existence, the FND granted credits to a small number of forestry, agricultural and fishing producers, mainly through financial intermediaries and under a design that ignored effective collection mechanisms,” the initiative details.
The government added that Financiera Nacional de Desarrollo has increased the delinquency of its portfolio to 26.2% at the end of 2022 when in previous years it was 13%. The reasons for this increase is that the Financial Company gave loans without guarantees.
10 of the Financiera’s clients concentrate almost half of the overdue portfolio of Financiera Nacional de Desarrollo for an amount of 4,210 million pesos.
The agency has had to hire external law firms that have had “little effectiveness in credit recovery.”
