Peru Seeks to Help Ex-Coca Farmers with New Credit Program

Peru Seeks to Help Ex-Coca Farmers with New Credit Program
Wednesday December 31, 2014
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To help get ex-coca farmers back on their feet again, Alberto Otárola, the CEO of the National Commission for the Development of Life without Drugs (Devida), announced a new credits program for farmers sanctioned by the Agricultural Bank (Agrobanco).

Otárola explains that: “These families received their property titles, then Agrobanco gives them a preferential rate on a direct loan for the development of their crops. The subject is already pending.”

Four hundred ex-coca farmers are estimated to benefit from these credits which will enable them to switch to alternative crops.The farmers that will participate in this credit program live in Monzon Valley in the Huanuco region, a place where coca is grown in abundance.

In 2014 Devida gave out 13,000 property titles to ex-coca growers in a more formal process. Agrobanco will offer financial loans to those without land titles, Otátola adds, but it was Devida that made the government-backed credits program possible he claims.

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