Banco Agricola de Venezuela, C.A. (Venezuela)

Banco Agrícola de Venezuela, C.A. Banco Universal is a financial institution affiliated with the Ministry of Popular Power for Productive Agriculture and Lands. It was inaugurated by the President of the Bolivarian Republic of Venezuela, Hugo Chávez Frías, on October 24, 2006. The main objective of the bank is to finance the productive development of the nation within a new socialist management model that promotes the participatory involvement of the organized people. The bank provides agricultural financing with fair and supportive interest rates to farmers and producers. Additionally, they offer technical and productive assistance to ensure the success of agricultural ventures. In July 2011, Banco Agrícola de Venezuela underwent a transformation process, transitioning from a Universal Bank to a specialized entity in agricultural matters, according to Decree No. 8.330 published in the Official Gazette No. 39.713 on July 14, 2011. Under this decree, the bank focused on financing operations related to the agricultural sector, including various subsectors such as crops, livestock, fishing, forestry, and aquaculture. They also financed activities related to transportation, storage, production, and commercialization of food products, as well as popular and alternative economy initiatives. After operating for three years as a specialized agricultural bank, on November 19, 2014, Banco Agrícola de Venezuela once again became a Universal Bank, according to Decree No. 1.400 published in the Extraordinary Official Gazette No. 6.154 on November 19, 2014. This allowed the bank to offer a range of financial products and services to meet the diverse needs of the Venezuelan people. Throughout its years of operation, Banco Agrícola de Venezuela has implemented a plan to strengthen sustainable agricultural cultivation under a socialist productive model. They have provided continuous financing throughout the country, benefiting a significant number of workers in the agricultural sector. These workers now have the opportunity to contribute to the productive process and ensure a continuous supply of food at fair prices. The bank has progressively expanded its network of branches nationwide, increasing the number of operations conducted through its banking offices. This expansion has consolidated its presence in the main agricultural municipalities, aiming to support individuals living in hard-to-reach areas and aligning with the policies of the Bolivarian Government to provide financial support to producers.