National Bank of Panama Cuts Interest Rates to 3.25% for Agricultural Producers

Posted on 2026-04-27

During the fourth Agricultural Meeting in the Azuero region, Javier Carrizo Esquivel, General Manager of the National Bank of Panama (Banconal), announced a strategic interest rate reduction for the farming sector. The new 3.25% rate targets small and medium-sized producers with up-to-date loan payments, directly benefiting over 1,600 farmers.

This measure lowers previous rates of 4.75%, 4.50%, and 4.25% down to 3.25%. Additionally, for approximately 2,900 producers who already enjoy a 3.25% rate, the bank will freeze this figure, establishing a one-year cap. Altogether, more than 4,500 producers nationwide will benefit from this financial support.

The decision comes in response to rising production costs and surging fuel prices caused by geopolitical tensions in the Middle East, which have pressured global oil supplies. "Reducing financial costs will help the sector move forward during these challenging times," stated Carrizo Esquivel, highlighting the bank's role in mitigating the impact of global inflationary trends.