Better Information for Agricultural Sector Thanks to CAF and FINAGRO

CAF—development bank of Latin America—and FINAGRO signed a USD 248,000 technical cooperation agreement for the design of the agricultural information system in Colombia, as an agricultural policy risk management mechanism, one of the targets of the 2015-2018 National Development Plan.

The 12-month plan is intended to contextualize and describe the components of an agricultural risk management information system (SIGRA) in the Colombian context. This platform seeks to provide decision-making tools, and to guide actions and policies for preventing, adapting to or minimizing the effects of different risks affecting the sector and where investors, producers, associations and the financial system can access this information.

“We expect the design of this system to contribute greatly to the entire agricultural sector in Colombia. This system is part of CAF’s comprehensive agenda to boost rural development in the country, which prioritizes social and productive inclusion, environmental sustainability and bridging gaps that hinder competitiveness,” said Carolina España, CAF Director-Representative in Colombia.

The SIGRA development initiative is supported by the Ministry of Agriculture and Rural Development through the Agricultural Financing and Risks Directorate, the ICT Office, the Agricultural Rural Planning Unit (UPRA) and the Agricultural Sector Financing Fund (FINAGRO), through the Vice-Presidency of Agricultural Guarantees and Risks.

The development of the agricultural sector in Colombia is a priority for CAF as part of its efforts to increase interventions aimed at bridging gaps that affect the efficiency and competitiveness of agro-industrial chains and in order to generate knowledge about best practices along the agribusiness chain.