In 2020, Bottom of Guarantee from the province of Buenos Aires (Fogaba) increased by 53% assistance to SMEs compared to the previous year, as reported today by the Ministry of Production of Buenos Aires, headed by Augusto Costa.
Through the bottom, access to financing for SME projects increased 117%, and also the guaranteed value grew by 113%.
Within the framework of the economic-financial context caused by the pandemic, the Buenos Aires Guarantee Fund, under the Ministry of Production, Science and Technological Innovation, made possible, throughout the year 2020 through its guarantees, a strong increase in access to financing of Buenos Aires SMEs, which facilitated the payment of salaries and guaranteed the production of industry, commerce, services and agriculture.
With the endorsement of Fogaba, 53% more Buenos Aires SMEs were able to continue manufacturing chinstraps, air compressors, baby products, machinery, packaging services and export its production to the whole world, among many other goods and services, month by month in 2020.
The government’s assistance and productive policies made it possible to maintain consumption and employment in the province.