Credits For The Productive Investment

The Argentine Central Bank amended the regulation on credits for productive investment, regarding the eligible credits and the maximum interest rate.

On August 6, 2012, the Central Bank of Argentina (the "Banco Central de la República Argentina" or "BCRA") issued Resolution "A" 5338 which amends the regulation on credits for productive investment, regarding the eligible credits and the maximum interest rate.

In regard to the eligible credits, the financing of productive projects -including the acquisition of fixed assets- is eligible only when the following requirements are performed:

1. the projects do not belong to the primary sector;
2. the amount of financing to be allocated to purchase real estate does not exceed 20% of the financing nor 50% of the value of the real estate;