Law 448

Original Language Title: Ley 448

Read the untranslated law here: http://www.gacetaoficialdebolivia.gob.bo/index.php/normas/verGratis_gob2/147240

Law No. 448 law of 4 December 2013 EVO MORALES AYMA President constitutional of the PLURINATIONAL State of BOLIVIA, by how much, the plurinational Legislative Assembly, has sanctioned the following law: the Assembly Legislative PLURINATIONAL, DECREES: article 1. (OBJECT). This law aims to create three (3) programs, under authority of the Ministry of Rural development and land, in order to strengthen the agricultural sector, giving priority to small and medium-sized producers; as well as the mechanisms of financing for the implementation of the same.
Article 2. (CREATION AND COMPOSITION OF PROGRAMMES).
I in order to strengthen the agricultural sector to ensure food security with sovereignty for the benefit of the Bolivian population, within the framework of this law, the following programs are created: National fruit program;

National programme of production of vegetables, and;

National programme for minor ruminants and fishing.
II. each of the programs defined in the preceding paragraph, includes as one of its components the financial services; the rest of the components will be established through regulatory Supreme Decree.
III. the Ministry of Rural development and Lands, through the Vice-Ministry of Rural and agricultural development, will be in charge of the process of implementation and program implementation mentioned in paragraph I of this article.
Article 3. (FUNDING PROGRAMS).
I. the execution and implementation of the programmes referred to in the preceding article, shall be financed by resources: General treasure of the State with the following amounts: of up to Bs.69.591.136.-(sixty and nine million five hundred ninety and a thousand one hundred thirty-six 00/100 Bolivianos), national fruit program.

Of up to Bs.69.527.682.-(sixty and nine million five hundred twenty-seven thousand six hundred eighty-two 00/100 Bolivianos), for the national program of production of vegetables.

Of up to Bs.69.594.803.-(sixty and nine million five hundred ninety-four thousand eight hundred three 00/100 Bolivianos), for the national program of minor ruminants and fishing.

In addition to resources allocated in the paragraph 1 of the present paragraph, the Ministry of Rural development and land, you can manage other sources of financing internal and/or external resources, prior compliance with the regulations in force.
II. authorizing the Ministry of economy and finance, through the General State Treasury - TGE, transfer to the Ministry of Rural development and land, the resources set forth in paragraph I of this article, which will be disbursed according to the plan of implementation and Chronogram of execution of each of the programs.
Article 4. (ALLOCATION OF RESOURCES). I. the resources from the General State Treasury - TGE to previously designated programs, will be assigned in the following manner: financial services;

Public investment projects;

-Private transfers in kind or cash, and;

Up to a seven per cent (7%) of the amount allocated to each programme, for operating expenses.
II. the resources set forth in paragraph 2 of the first paragraph of the preceding article, shall be assigned according to agreements to be signed.
Article 5. (FINANCIAL SERVICES).
I the purpose of running the financial services component, the Ministry of Rural development and Lands is empowered to select and sign contracts administration and provision of financial services with banking entities regulated by the authority of Supervision of the financial system - ASFI or development finance institutions - IFD in process of incorporation into the scope of the regulations in force.
II. the resources of the financial services component, can be applied in individual, community lending, micro-credit under the technology of village banking, leasing operations, establishment of guarantee funds and other products or financial mechanisms aimed at providing financial support to the beneficiaries of the programs established under this Act.
III. credit operations may accept in support of the same unconventional guarantees, in terms that do not require registration in the public registry and compliance with other formalities and usual practices in the case of security rights, and likewise, they may recognise endorsement or certification of originating indigenous communities, peasants, intercultural communities, afrobolivianas and others.
IV. credit operations, may exceptionally be reprogramming of the principal sum, having debtors to pay interest and others to access it. Reprogramming may apply to verify that the failure was due to factors associated with natural disasters or other contingencies beyond the control of the borrower. These operations of credit under any circumstances may be waived.
V. Commissions on management and provision of financial services that charge the authorities of financial intermediation and IFD, in the framework of the signed contracts, shall be filled with resources from the financial services component.
VI. the Ministry of Rural development and land, must be special monitoring to the use of resources under the administration of the financial intermediation and IFD entities contracted, ensuring that they are intended for the purposes for which they were conceived in order to contribute to food security and sovereignty.
SOLE TRANSITIONAL PROVISION.
I in one period not exceeding ninety (90) calendar days, computable from the publication of this law, the Ministry of Rural development and land, will draw up the regulations, which will be approved by Supreme Decree.
II. in one nongreater term to the sixty (60) calendar days after approved its regulatory Supreme Decree, the Ministry of Rural development and land, by Ministerial resolution, approve the implementation Plan, which will include the schedule of disbursements and regulate transfers-private described programs.
SOLE FINAL PROVISION. It is authorized to the ministries of development planning, economy and public finance, and Rural development and Lands, make budgetary transfers and corresponding records, in the scope of their powers and in the framework of the current legislation for compliance with the present law.
Refer to the Executive Body for constitutional purposes.
Two thousand thirteen is given in the room of sessions the Assembly Legislative plurinational, thirteen days of the month of November of the year.
FDO. Nélida Sifuentes Cueto, Lucio brand Mamani, Andres Agustin Villca Daza, Claudia Jimena Torres Chavez, Gallo Silvestre Bonifaz, Angel David Cortés Villegas.
I therefore enacted it is and meets as a law of the plurinational State of Bolivia.
Government Palace of the city of La Paz, to the four days of the month of December of the year two thousand thirteen.
FDO. EVO MORALES AYMA, Juan Ramón Quintana Taborga, Luis Alberto Arce Catacora, Nemesia Achacollo Tola, Amanda Davila Torres.