Cajamar opens a € 800M financing line to alleviate losses in the agricultural sector due to the storm in Valencia, Andalusia and Murcia

The rural cajas of the Cooperative Group Cajamar have authorized an initial line of special financing in the amount of 800 million euros to attend to those affected by the torrential rains that have been taking place in December in certain provinces and regions of the Comunidad Valenciana, Andalusia and Murcia.

Directors of the Group’s branches are in constant contact with representatives of the agri-food and business sectors, with whom various meetings have been held. They are also touring the affected areas to know the extent and value of the damage.

This line of financing is aimed at alleviating the losses recorded in crops, agri-foodstuffs, industrial facilities of other business sectors, as well as in the property of individuals, real estate or vehicles that have been damaged by the successive water pipes that are lashing these areas in recent days.

This is a preferential line of financing for the reconstruction, rehabilitation or repair of damaged property, at the same time as it will serve to advance the collection of indemnities corresponding to insurance companies

Source: BCC-Grupo Cooperativo Cajamar