The Pan-Panama Cabinet Council approved an economic injection of more than US$90 million additional to the agricultural sector of what was budgeted for the fiscal validity of 2023, with the purpose of boosting national production and guaranteeing the food security of the Panamanian population,

The redistribution of the funds allocated to the agricultural sector in Law 4 of May 17, 1994, through which the Special Interest Compensation Fund (FECI) was established to the aforementioned sector.

The Cabinet granted courtesy of room to Carlo Rognoni, director of the Institute of Agricultural Marketing (IMA), who explained that the redistribution seeks that 25% of the FECI funds be allocated to the Agricultural Development Bank (BDA); 25% for the IMA and 50% for the Ministry of Agricultural Development (MIDA),

It is also sought with the approval of the measure that once the approved resolution enters into force the funds are transferred directly to the MIDA and this institution makes a collection management for the rapid use of these funds by the institutions of the sector.

The Superintendent of Banks, Amauri Castillo Chang, reported that the withholding of 1% of the FECI for the fiscal validity of 2022 amounted to B/. 275.5 million.

This session was attended by ministers Héctor Alexander (MEF), Augusto Valderrama (MIDA), Francisco Sucre (MINSA), Maruja Gorday de Villalobos (MEDUCA), María Inés Castillo (MIDES), Milciades Concepción (MI AMBIENTE), Federico Alfaro (MICI) and Carlo Rognoni, director of the Agricultural Marketing Institute (IMA).