Santiago Peña announces new industrial financing and ministerial integration in Paraguay

Paraguayan President Santiago Peña has announced a series of measures aimed at strengthening the nation's industrial sector and improving competitiveness. During the 90th anniversary celebration of the Unión Industrial Paraguaya (UIP), Peña introduced the ‘Paraguay Industrial’ credit line, which offers interest rates of 10.5% in guaraníes and 8.5% in dollars. These loans feature terms of up to 15 years and grace periods of up to three years to accommodate the long-term nature of industrial projects.

Additionally, the government is launching the Industrial Guarantee Fund (FOGAIN) to facilitate credit access for companies through a guarantee scheme. These financial tools are intended to encourage new investments and job creation.

Peña also submitted a bill to Congress President Basilio Núñez proposing the integration of the Ministry of Industry and Commerce (MIC) with the National Secretariat of Tourism (Senatur). The legislative project seeks to unify policies regarding industry, commerce, services, SMEs, and tourism under a single leadership structure to better coordinate investment and export strategies.