Argentina-Export financing from government.

ARGENTINA

EXPORT FINANCING.

Argentina announced an US$80 million support plan, for the fishing industry on Thursday.

This is to help pre-finance exports with a special credit line from Banco Nacion, which acts as a development bank.

President Kirchner, made the announcement on Thursday after a meeting with regional governors and members of the fishing industry.

The president said, " the idea is that the effort of all Argentines towards fisheries, is also the effort on the entrepreneurs who have enjoyed strong profits during the good years".

In the first 10 months of 2008, fish exports generated US$1.46 billion in revenue.

To give an idea of the importance of the fish trade, beef exports only realized US$1.89 billion for the same period.

The plans is place to value add fish products, will double this figure in the next 3 years.